Disney Hands Out $1,000 Bonuses to 125,000 Employees Because of the Tax Cuts and Jobs Act
WASHINGTON, D.C. – It’s another zip-a-dee-doo-dah day in America following the passage of the Republicans’ Tax Cuts and Jobs Act as Disney joins the list of over 200 companies handing out bonuses, raises, benefit increases, and more jobs because of the savings they see under the bill.
Disney is not mousing around: the company is giving $1,000 bonuses to 125,000 employees and putting $50 million in a fund to help hourly employees with tuition costs with a commitment to add $25 million more to the fund each year.
With over two million Americans across the country now receiving these bonuses, raises, and increases in benefits and hiring, it’s clear that our country is awakening from the economic slumber of the last eight years and riding the magic carpet into economic growth. Plus, instead of dealing with the beast of having to fill out complicated tax forms, now Americans will see the beauty of a simpler tax code.
While Democrats claimed the Tax Cuts and Jobs Act was the legislative version of Cruella de Vil, it’s clear to the millions on the receiving end of these benefits that it’s more like the Fairy Godmother.
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To see the growing list of companies increasing wages, investments, jobs, and bonuses because of the Tax Cuts and Jobs Act, click here.
Bloomberg: Disney to Give Employees $1,000 Bonuses in Wake of Tax Reform
By Christopher Palmeri Bloomberg News
January 23, 2018
Walt Disney Co. said it will give employees a one-time cash bonus of $1,000, joining a growing list of companies handing out awards in the wake of federal tax reform.
About 125,000 U.S. employees will be eligible, the company said Tuesday in a statement, putting the cost at $125 million. Disney also plans to put $50 million into a fund to help hourly employees with tuition costs and plans to provide as much as $25 million annually for that purpose afterward.
Federal tax reform, which cut corporate rates to 21 percent, is providing a cash windfall that some employers are choosing to share with workers. Verizon Communications Inc. said Tuesday it’s giving employees stock grants worth about $2,600.
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