- The Washington Times - Thursday, January 25, 2018

Home Depot is giving hourly workers in the U.S. a one-time cash bonus of as much as $1,000, crediting the Trump tax cuts.

All U.S. hourly workers will get at least a $200 bonus in the current quarter, while employees of 20 years or longer will be awarded $1,000, the company told CNBC.

“We are pleased to be able to provide this additional reward to our associates for continuing to deliver outstanding customer service,” Home Depot President and CEO Craig Menear said in a statement. “This incremental investment in our associates was made possible by the new tax reform bill.”

The company said it is “still evaluating” all the provisions of the Republican tax plan but currently estimates that the impact on its 2018 tax provision and cash taxes paid “will be beneficial.”

Home Depot is the latest to say it’s boosting pay or benefits due to the passage of the Republican tax plan, which lowered the corporate tax rate from 35 percent to 21 percent as of Jan. 1.

Starbucks, for example, announced that it increasing pay for its full- and part-time employees and will now offer paid sick and parental leave for all employees.

Major companies including Apple, AT&T, Boeing, Comcast, Disney, Walmart and Verizon have also announced bonuses and wage increases in reaction to the tax cuts.

Copyright © 2019 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide