Growing Number Of Georgia Businesses, Workers Benefiting From Tax Cuts
Georgia employees seeing bonuses, pay raises, other benefits thanks to tax code changes backed by Isakson, Perdue
ATLANTA, GA – U.S. Senators Johnny Isakson (R-GA) and David Perdue (R-GA) today highlighted a growing number of Georgia businesses and workers who are seeing a positive impact from the historic tax cuts signed into law only seven weeks ago. More than 3 million Americans have already received bonuses, wage hikes or 401(k) match increases, including Georgia employees at the businesses below (listed alphabetically):
Aflac (Columbus, GA) – Increased 401(k) match from 50 percent to 100 percent on the first 4 percent of compensation plus one-time $500 contribution to every employee’s 401(k); $250 million increase in overall U.S. investment. Read more here.
“We are pleased that these tax reforms provide Aflac with an opportunity to increase our investments in initiatives that reflect our company values; providing for our employees in the long and short term, ensuring future growth for our company and giving back to the community.” –Dan Amos, Aflac Chairman and CEO
AR-15 Gun Owners of America (Warner Robins, GA) – Bonuses and increased salaries for all employees. Read more here.
AT&T Southeast/BellSouth Telecommunications (Atlanta, GA) – Announced it would give more than 200,000 employees a special bonus of $1,000 and invest an additional $1 billion in the U.S. Read more here.
Carl Black Automotive Group (Kennesaw, GA) – Bonuses to more than 500 employees. Read more here.
Expanded Technologies, Inc. (Marietta, GA) – Minimum bonuses of $500 for each employee and additional cash depending on length of service. Read more here.
“As a result of the Tax Cut and Job Act recently enacted by the Trump Administration, we are pleased to announce that ETI will give each of its 77 employees a bonus of $500 cash along with an additional sum for each year of service.” –Jean-Luc Liverato, Expanded Technologies, Inc.
Home Depot (Atlanta, GA) – Bonuses of up to $1,000 for every hourly employee. Read more here.
“We are pleased to be able to provide this additional reward to our associates for continuing to deliver outstanding customer service. This incremental investment in our associates was made possible by the new tax reform bill.” –Craig Menear, Home Depot Chairman, CEO and President
Lockheed Martin Corp. (Marietta, GA) – Plans to contribute $5 billion in cash toward its pensions and increase its commitment to initiatives such as employee training, charitable contributions for education in science and math, and the Lockheed Martin Ventures fund by $200 million. Read more here.
Mincey Marble (Gainesville, GA) – Bonuses of up to $1,000 based on length of service. Read more here.
“As the owner of a family business, I want to share how tax reform is benefitting Americans at every level. Companies big and small are passing along tax savings to the workers who help build our economy. I hope that the bonuses Mincey Marble is providing encourage other businesses in our great state to pay it forward, because the Tax Cuts and Jobs Act is the kind of meaningful change that can help transform communities by bringing relief to American workers and families.” –Donna Mincey, Mincey Marble President and CEO
Shred-X (Griffin, GA) – Plans to use the additional savings from tax reform to purchase a new truck and hire a new employee at their company of ten people. Read more here.
“This is just one practical example of how tax reform is helping us here on Main Street.” –Cade Joiner, Shred-X owner
Starbucks Coffee Company (Augusta, GA) – Reaffirmed its commitment to add an additional 500 manufacturing jobs at its Augusta, Georgia, soluble coffee plant, where a $120 million expansion is planned for 2019; also announced new raises and benefits totaling $250 million and 8,500 new jobs nationwide. Read more here.
SunTrust Banks, Inc. (Atlanta, GA) – Base wage increases to $15 per hour; $50 million in additional community grants; merit pay raise; additional 401(k) contributions; etc. Read more here.
“The anticipated benefits from tax reform allow us to build upon our purpose of Lighting the Way to Financial Well-Being in a sustainable way by implementing actions that will have a multi-year impact for many of the constituents that count on us. We believe tax reform will improve the competitiveness of American business and promote economic growth, and this gives us confidence to invest more in our company, our teammates and the communities we serve.” –Bill Rogers, SunTrust Chairman and CEO
Synovus Financial Corporation (Columbus, GA) – $1,000 bonuses to all non-executive employees. Read more here.
Total System Services (Columbus, GA) – $1,000 bonuses for 11,500 employees. Read more here.
“A spokesperson for the Columbus, Ga.-based credit card processor best known as TSYS told Atlanta Business Chronicle that it made an internal announcement Tuesday that team members would receive a ‘special one-time cash bonus of $1,000’ as ‘a result of the company’s continued success and the recently passed U.S. tax reform legislation.’”
UPS (Atlanta, GA) – $12 billion in investments to expand the company’s Smart Logistics Network and increase employee pensions. Read more here.
“We applaud President Trump and Congress for their bold action to improve the U.S. economy. Our investments will create new jobs, secure existing jobs and expand opportunities for our people. We are committed to remaining a preferred employer by continuing to provide industry-leading compensation and excellent career opportunities.” –David Abney, UPS Chairman and Chief Executive Officer.
Yancey Bros. (Austell, GA) – $500 bonuses for 1,200 employees. Read more here.
Gainesville Company Pays Tax Reform Benefits Forward
GAINESVILLE, Ga.—As President Trump delivers his first State of the Union address today, a northeast Georgia company is announcing its plan to deliver bonuses to its employees as a direct result of the Tax Cuts and Jobs Act.
Mincey Marble was established in 1977 in Gainesville as a manufacturer of cast marble products for hospitality, healthcare and other markets around the country. Donna Mincey, President and CEO of Mincey Marble, says that the tax reform package signed into law last December will directly benefit her company’s bottom line, which allows her to further invest in Mincey’s more than 300 employees, many of whom are hourly workers.
“As the owner of a family business, I want to share how tax reform is benefitting Americans at every level. Companies big and small are passing along tax savings to the workers who help build our economy. I hope that the bonuses Mincey Marble is providing encourage other businesses in our great state to pay it forward, because the Tax Cuts and Jobs Act is the kind of meaningful change that can help transform communities by bringing relief to American workers and families,” said Mincey.
“Mincey Marble has been part of our community for decades, and their decision to pass along the company’s tax benefits to our hardworking neighbors is outstanding. I supported the Tax Cuts and Jobs Act with President Trump knowing it would lead to lower taxes and higher paychecks for northeast Georgians. We’re already seeing the economic benefits of tax reform happening at corporate and grass-roots levels, and I’m always thrilled to hear individual stories of how smaller government helps people—like the team members at Mincey Marble—invest in bigger dreams,” said Collins.
Employees at Mincey Marble will receive bonuses of up to $1,000 depending on their length of service with the company. Even employees hired this year will see a bonus, and the checks are scheduled to arrive during the week of Valentine’s Day as a sign of the company’s appreciation for its associates.
Due in large part to their confidence in the Trump Administration’s pro-business agenda, Mincey Marble’s management team also made the decision in January 2017 to expand the size and operations of a new facility that is currently under construction in Gainesville.
Other Georgia companies that have increased employee benefits in the days since President Trump signed the Tax Cuts and Jobs Act into law include Aflac, Home Depot and Yancey Bros. Caterpillar Dealer.
Collins Praises House Passage of Tax Cuts and Jobs Act Conference Report
WASHINGTON—The House of Representatives passed the conference report to H.R. 1, the Tax Cuts and Jobs Act. This move sends the bill to the Senate for a final vote that would land the bill on the president’s desk. Rep. Doug Collins (R-Ga.), Vice Chair of the House Republican Conference, issued the following statement in response:
“Today’s vote in the People’s House helps turn promise and potential into reality. Republicans have confidence in the potential of the American worker to make our country grow again—that’s why they are the foundation of the Tax Cuts and Jobs Act. We’re giving job creators more reasons to invest in America’s workforce, strengthening our economy and our communities. We’re making the IRS less ravenous and putting more money back in the hands of American families so that they can pursue more of their ambitions on their own terms. A decade of the status quo has guaranteed us only a stagnant economy. Republicans promised to reform a broken, bloated tax system so that Americans can chart a path out of economic anxiety and into economic empowerment. We’re keeping that promise today.”
Senator David Perdue Discusses Historic Tax Cuts On CNBC
“The person who is going to benefit the most in this tax plan is the person that gets a job”
WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA) spoke with Joe Kernen, Becky Quick, and Andrew Sorkin on CNBC’s Squawk Box about the historic action the U.S. Senate has taken to fix the tax code, help middle-class families, and make America more competitive again.
Historic Opportunity: “It’s a historic day in Washington. People are expecting us to get tax done, and I think we will.”
Simplifying The Code: “This is a simplification. Only 30% of taxpayers today itemize, and that’s projected to go down to 10%. To say it another way, 90% of all taxpayers will use the standard deduction, which was doubled in this plan. This is by any definition simplification.”
Growing Optimism: “Getting our corporate rate to be competitive with the rest of the world is the best thing we can do for the American worker, and I think that’s what you’re seeing in some of these optimism numbers now.”
Relief For The Middle Class: “This is indeed a tax cut for the middle class. A family of four, who make the median income of $73,000, are going to get a 60% tax cut. A single mom, with one child, making $41,000 is going to get a 75% tax cut.”
Making America Competitive: “Our focus here is to get competitive again, and the person who is going to benefit the most in this tax plan, is the person that gets a job.”
WASHINGTON—The House of Representatives today passed the Tax Cuts and Jobs Act. Rep. Doug Collins (R-Ga.), Vice Chair of the House Republican Conference, issued the following statement in response:
“This afternoon, the People’s House reaffirmed its confidence in American workers and families by passing comprehensive tax reform. The last three decades empowered the IRS to dig its tentacles deeper into the wallets of our neighbors, and we acted to reverse that trend today.
“Middle-class Americans and job creators deserve relief from burdensome taxes and the opportunity to pursue more of their ambitions on their terms. The Tax Cuts and Jobs Act can deliver on both fronts on behalf of our nation’s families and future.”