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Bernie's Tax Reform Lies Come to Michigan

Ellie Hockenbury - February 25, 2018

Today, self-proclaimed Socialist Bernie Sanders is in Lansing to echo Nancy Pelosi, Chuck Schumer, and Debbie Stabenow’s falsehoods that bonuses, pay raises, and new jobs as a result of the Tax Cuts and Jobs Act are a bad thing for Michiganders and nothing more than “crumbs.”

Unfortunately for Bernie, the people of  Michigan know better than to believe his liberal lies about tax cuts. The RNC is reminding Bernie of this with a Snapchat filter around today’s event:

If you’re covering today’s event, please consider the below statement and background on how the Tax Cuts and Jobs Act is really paying off for Michigan’s middle class.

“Deception is the name of the game today as Socialist Sanders tries to convince Michiganders that they’d be better off without the pay raises, bonuses, and new jobs that came courtesy of the Tax Cuts and Jobs Act. Too bad for Bernie, Michiganders see through these lies spread about tax reform by Chuck Schumer, Debbie Stabenow, and him. Even worse for these liberal Democrats, voters will remember who really fought for their higher paychecks at the polls this November.” – RNC Spokesperson Ellie Hockenbury

BACKGROUND:

As A Result Of The Tax Cuts And Jobs Act, AT&T Will Pay $1,000 Bonuses To Over 200,000 “‘Union-Represented, Non-Management” Workers, And Will Invest An Additional $1 Billion Into The United States In 2018 Alone.  “AT&T, the No. 2 U.S. wireless carrier, said it will pay $1,000 bonuses to more than 200,000 employees and invest an additional $1 billion in the United States in 2018, once the tax reform bill is signed into law. An AT&T spokesman said the bonuses were unrelated to the $1,000 that 20,000 AT&T Mobility employees will receive as part of an agreement with the Communications Workers of America announced last week. Employees eligible for the bonus are all ‘union-represented, non-management and front-line managers,’ AT&T said in a statement.” (“AT&T, Two Banks Offer Bonuses, Pay Hikes In Wake Of U.S. Tax Reform,” Reuters, 12/20/17)

  • There Are 7,100 AT&T Employees In Michigan. “More than 7,100 AT&T employees working in Michigan as of June 30, 2016.” (“Jobs And Economic Support,” AT&T, Accessed 1/3/18)

Bank Of America Will Give About 145,000 Employees $1,000 Bonuses, CEO Brian Moynihan Cited The Tax Cuts And Jobs Act As The Reason For The Companies Generosity. “Bank of America will give some of its employees a $1,000 bonus, citing the tax bill that was just signed into law. ‘Beginning in 2018, we will see benefits from the tax reform ... in the form of lower corporate tax rates,’ CEO Brian Moynihan said in an internal memo to employees obtained by CNBC. He also said that about 145,000 employees will receive the bonus.” (Fred Imbert, “Bank Of America Is Giving Some Employees A $1,000 Bonus, Citing Tax Bill,” CNBC, 12/22/17)

  • Bank Of America Has 119 Financial Centers In Michigan. (“Michigan,” Bank Of America, Accessed 1/3/18)

Fifth Third Bank Announced That It Will Pay More Than 200,000 Employees $1,000 Bonuses. “Fifth Third is yet another company to announce a bonus for employees because of the tax plan. AT&T said earlier Wednesday that it would pay more than 200,000 U.S. employees $1,000 each and increase its capital spending budget by $1 billion.” (Liz Moyer, “Wells Fargo, Fifth Third Bancorp Unveil Minimum Wage Hikes After Tax Bill Passage,” CNBC, 12/20/17)

  • Fifth Third Bancorp Has 2,600 Employees In Michigan. “Fifth Third, which has 190 branches in Michigan and employs almost 2,600 workers in Michigan, said about 75 percent of its employees will receive a pay increase or bonus. Fifth Third is the largest bank in West Michigan, with more than 1,900 employees.” (Jim Harger, “Fifth Third Bank Will Raise Minimum Hourly Wage After Trump Signs Tax Bill,” Michigan Live, 12/21/17)

PNC Financial Services Has 5 Wealth Management Offices In Michigan. (“Wealth Management And Hawthorn Office Locations,” PNC, Accessed 1/3/18)

Consumers Energy Is Passing Along 100 Percent Of Their Savings From The Tax Cuts And Jobs Act To Their Customers. “‘Today, Consumers Energy was pleased to submit a proposal to the Michigan Public Service Commission that would lower customer bills starting in 2018 by approximately $200 million, as a result of the recent federal tax reform changes. We are thrilled to be able to pass along 100 percent of the savings from tax reform to the people we are privileged to serve. This underscores our commitment to people, planet and prosperity for all of Michigan.’” (Press Release, “Consumers Energy Puts Customers First On Tax Reform,” Consumers Energy, 1/19/18)

DTE Energy Is Passing On Their Savings From The Tax Cuts And Jobs Act To Millions Of Customers Across The Country And In Michigan. “DTE Energy issued the following statement regarding the impacts of H.R.1, the Tax and Jobs Act. ‘The recent passage of the Federal Tax Cuts and Jobs Act will offer benefits to energy customers across the country – including DTE’s utility customers here in Michigan. The reduction of the corporate tax rate will result in lower bills for DTE’s 2.2 million electric and 1.3 million gas customers.’” (Press Release, “DTE Energy Passes Tax Reform Savings On To Customers,” DTE Energy, 1/23/18)

Fiat Chrysler Will Give 60,000 Employees A $2,000 Bonus, And Invest $1 Billion In A Factory In Detroit That Will Create 2,500 Jobs.  “Fiat Chrysler Automobiles NV is investing $1 billion in a Michigan truck factory and paying worker bonuses in the wake of a U.S. tax cut, gestures that could come in handy amid major policy matters being sorted out in Washington. The Italian-American automaker will share the spoils of a lower corporate tax rate by sending $2,000 checks to about 60,000 U.S. workers. Fiat Chrysler also will spend more than $1 billion and add 2,500 jobs at a factory near Detroit to produce heavy-duty Ram pickups that the company has been making in Mexico.” (Jamie Butters and Ryan Beene, “Fiat Chrysler To Invest $1 Billion, Pay Bonus After Tax Cut, Bloomberg, 1/11/18)

A Michigan Engineering Firm Will Award $1,500 Bonuses To Its 400 Full Time Employees. “Grand Rapids-based Fishbeck, Thompson, Carr & Huber, or FTCH, said yesterday it issued $1,500 bonuses to all 400 of its full- and part-time employees, effective Dec. 29.” (Rachel Watson, “Engineering Firm Issues Bonuses After Tax Reform,” Grand Rapids Business Journal, 1/16/18)

Walmart Increased Their Minimum Wage To $11 An Hour And Expands Benefits For Workers. “Walmart's workers will soon reap the benefits of the recent tax law changes, as the world's largest private employer raises its starting wage, creates new benefits and distributes bonuses to eligible workers. The big-box retailer announced Thursday it will increase its starting wage rate for hourly employees in the U.S. to $11, and expand maternity and parental leave benefits. Currently, Walmart's starting wage is $9 until workers complete a training program. Then, they receive $10.” (Lauren Thomas, “Walmart To Raise Its Starting Wage To $11, Give Some Employees Bonuses Following Tax Bill Passage,” CNBC, 1/11/18)

  • There Are 32,303 Walmart Employees In Michigan. “Associates: Associates in Michigan: 32,303.” (Michigan, Walmart, Accessed 1/11/18)

Michigan Based Fishbeck, Thompson, Carr & Huber Gave All 400 Of It’s Employees A $1,500 Bonus. “A local architecture engineering firm has issued bonuses to all of its employees following tax reform. Grand Rapids-based Fishbeck, Thompson, Carr & Huber, or FTCH, said yesterday it issued $1,500 bonuses to all 400 of its full- and part-time employees, effective Dec. 29. Jim Susan, president of FTCH, said the company decided to give out the bonuses as a result of the firm’s tax savings following passage of the federal tax bill on Dec. 22.” (Rachel Watson, “Engineering Firm Issues Bonuses After Tax Reform,” Grand Rapids Business Journal, 1/16/18)

Michigan’s Lakestone Bank And Trust Gave All Employees A $1,000 Bonus And Raised Wages By $1 An Hour.  “All hourly employees received a $1 per hour raise and all salaried employees will receive a $1,000 bonus. The bank’s board of directors overwhelmingly supported this action, resulting in a significant investment into the bank’s employees.” (“Lakestone Bank & Trust Employees Benefit From Tax Reform,” The County Press, 1/28/18)

Michigan Based Mill Steel Corporation Gave All 400 Of Its Employees A $1,000 Bonus. “GRAND RAPIDS, Mich., Feb. 8, 2018 /PRNewswire/ -- Mill Steel Co., one of the nation's largest distributors of flat-rolled carbon steel, is pleased to award a $1,000 bonus to all 400 of its full-time associates following the tax cut passed by Congress and signed by President Trump.” (Press Release, “Mill Steel Co. Gives $1,000.00 Tax Cut Bonus To All Full-Time Associates,” Mill Steel Co. 2/8/18)

Penske Automotive Group Announced It Has Enhanced Its Employees’ 401(K) Saving Plans By Increasing Matching Contributions As A Result Of Tax Cuts. “Penske Automotive Group, Inc. an international transportation services company, announced today that it has enhanced the company's U.S. 401(k) savings plan by increasing company matching contributions from 1.5% to 2.5% of eligible contributions, representing an increase of 67%.  The increase will provide a recurring, annual benefit to our employees.” (Press Release, “Penske Automotive Increases 401(K) Matching Contributions,” Penske Automotive, 1/31/18)

 


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