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Tax Reform Update: 350+ Businesses Benefiting from Tax Cuts

The Tax Cuts and Jobs Act, passed last December, spurred more than 350 businesses (ranging from small businesses to corporations) to make announcements [1] of one-time bonuses and enhanced benefits for their employees and customers.

Freedom Partners Chamber of Commerce, a pro-free market organization, has published and updated a list naming all the companies and their announcements.

Before, we noted [2] that Apple (20,000 new jobs and a new U.S.-based campus), JP Morgan Chase ($20 billion investment in the U.S.), Starbucks (raised minimum wage, expanded sick time off and parental leave for non-parents), Home Depot (employee bonuses $200 to $1,000 based on time with the company) and Johnson & Johnson (multi-million dollar investment on research and development) made announcements of significant investments in the U.S. due to the tax law.

The list has since expanded to other major companies, such as the ten major companies below:

The success of the tax law concerned Democratic lawmakers such as Minority Leader Nancy Pelosi to dismiss these bonuses as “crumbs [3].”

You can click here [1] to see the entire list.