Leading up to and following the Republicans’ $1.5 trillion tax cut that gives 80% of taxpayers some much-welcomed tax relief, Democrats and their sympathetic colleagues in the left-leaning media made a big to-do of polls showing how much Americans supposedly hated being allowed to keep more of their own money. But in reality, the benefits of the comprehensive tax reform bill have already begun to impact Americans, with a growing list of companies offering bonuses, raising wages, getting more generous with their charitable giving, and finding ways to pass savings along to customers.
Add Pepco to that growing list. This week, Pepco announced that because of the bill’s game-changing corporate tax reduction (slashed from 35% to 21%), 300,000 customers in Washington, D.C. will see lowered costs.
As The Daily Wire’s Ryan Saavedra highlights, so far around 100 companies — many of them major national companies — have announced that they are increasing bonuses, wages, and/or charitable giving. Here’s the list of companies as of the first week of January, compiled by Americans for Tax Reform:
AT&T, AAON, AccuWeather, Aflac, American Airlines, American Bank, American Savings Bank, Aquesta Financial Holdings, Associated Bank, Ball Ventures, Bank of America, Bank of Hawaii, Bank of the James, BB&T, Boeing, Canary LLC, Carl Black Automotive Group, Citizens Financial Group, Colling Pest Solutions, Comcast, Comerica Bank, Commerce Bank, Community Trust Bancorp, Copperleaf Assisted Living, Cornerstone Holdings, Dayton T. Brown Inc., Delaware Supermarkets Inc., DePatco Inc., Eagle Ridge Ranch, East Idaho News, Elite Roofing Systems, Elite Clinical Trials, Emkay Inc., Ennis Inc., Express Employment Professionals, Fifth Third Bancorp, FirstCapital Bank of Texas, First Farmers Bank & Trust, First Financial Northwest, First Hawaiian Bank, First Horizon National Corp., Frank L. VanderSloot Foundation, Fort Ranch, Gardner Company, Gate City Bank, Get Found First, HarborOne Bank, IAT Insurance Group, INB Bank, InUnison Inc., Kansas City Southern, Kauai Cattle LLC, Melaleuca, Move It Or Lose It Moving LLC, National Bank Holdings Corporation, Nationwide Insurance, Natural Guardian, Navient, Nelnet, Nephron Pharmaceuticals, OceanFirst Financial Corp., Ohnward Bancshares, Old Dominion Freight Line Inc., Pinnacle Bank, Pioneer Credit Recovery, PNC Financial Services Group, Inc., Regions Financial Corporation, Resident Construction LLC, Riverbend Communications, Riverbend Management, Inc., Riverbend Ranch, Riverbend Services, Royal Hawaiian Heritage Jewelry, Rush Enterprises, Sheffer Corporation, Sinclair Broadcast Group, Smith Chevrolet, Smith Honda, Smith RV, Southwest Airlines, Steel Design LLC, SunTrust, TCF Financial Corporation, The Flood Insurance Agency, Territorial Savings Bank, Texas Capital Bank, Tokio Marine HCC, Total System Services, Turning Point Brands, Inc., Unity Bank, U.S. Bancorp, Washington Federal, Wells Fargo, Western Alliance, Willow Creek Woodworks, Windsor Federal Savings, and Zions Bank.
As Saavedra notes, the economy at the end of year one of Trump’s’ presidency is booming. In January, the Dow Jones reached a record high, hitting 25,000 for the first time ever. In December, job creation exceeded expectations, with companies hiring some 250,000 new employees (60,000 above projections) while job-cuts fell to the lowest level since 1990. Manufacturing, meanwhile, saw some very positive signs, with “gains in orders and production capp[ing] the strongest year for factories since 2004,” according to Bloomberg.