Southwest and American Airlines are the latest two companies to announce employee bonuses thanks to the Trump tax cuts.
Southwest Airlines and American Airlines both announced $1,000 bonuses to their employees thanks to the President Trump.
They are the latest two companies to offer bonuses thanks to the Trump tax cuts.
At least 17 other companies have announced bonuses, higher wages and investments since the tax cuts passed.
It looks like the tax cuts are already working!
And not ONE SINGLE Democrat voted for the cuts.
CNN Money reported:
American and Southwest Airlines are giving their workers $1,000 bonuses because of the corporate tax cut that just became law.
American (AAL), the world’s largest airline, is making the payments to each of 130,000 employees, a total cost of about $130 million.
The law, passed by Republicans in Congress and signed into law by President Trump last month, cuts the corporate tax rate from 35% to 21%.
American wasn’t paying federal income tax anyway because it was sheltered by past losses that resulted in bankruptcies. But CEO Douglas Parker told employees in a letter that the new tax rules will help the airline later.
“We will be able to invest even more in aircraft and facilities, and we will be able to do so with even greater confidence about the future,” he wrote.
Southwest (LUV) is paying $1,000 to every full-time and part-time employee. The airline did not say how many workers would be covered, but a filing a year ago listed 53,500 full-time employees.