U.S. Sen. John Thune (R-S.D.), a member of the tax-writing Senate Finance Committee, issued the following statement today regarding the 1 million Americans benefiting from bonuses as a result of the Tax Cuts and Jobs Act that was signed into law in December.
“Two weeks ago, President Trump signed our historic tax reform bill into law, and middle-income Americans are already seeing the benefits. Companies across America are announcing they will raise wages, increase charitable donations, and give out bonuses to many of their hardworking employees — citing the tax reform legislation as the key factor in those decisions. As it stands today, at least 1 million Americans will receive special bonuses due to the passage of comprehensive tax reform. This is good news for many workers who have struggled to make ends meet in a weak economy. Americans now have a tax code that will foster the economic growth necessary to put more money in their pockets.”
Background: The Tax Cuts and Jobs Act is already having a positive effect on working Americans. Today, Americans For Tax Reform announced that at least 1 million Americans are benefiting from special bonuses from their employers thanks to tax reform. For more information and a detailed list, visit https://www.atr.org/list.