(Mirror Daily, United States) – On Wednesday, Starbucks said they plan to raise wages and offer employees some enticing perks.
The coffee chain credited the recently revamped tax code for the corporate cuts that made the move possible.
The company’s employees will also receive $500 bonus in stock grants while managers could get $2,000 in stock. Employees who need some time off to take care of their family or themselves will be allowed to use their accrued time-off.
The Seattle-based company’s chief executive, Kevin Johnson, said investing in the workforce has been a long-term strategy for Starbucks and the new tax cuts just enabled the firm to accelerate the pace.
The pay raises will be given this month followed by a new raise in April. Under the Republican-backed tax code overhaul, the corporate tax rate was trimmed from 35 percent to 21 percent.
Republicans hailed the news underlining that the tax cuts as working as expected.
Starbucks Giving Back to Hardworking Americans
House speaker Paul Ryan forwarded a news article about Starbucks’ decision to the party, while the National Republican Senatorial Committee expressed confidence that such media reports are a sign that the tax plan is a success.
Starbucks is only the latest example of businesses, both large and small, giving back to hardworking Americans,
a spokesperson for the NRSC said.
The spokesperson underlined that taxpayers win only if the economy wins, a fact often disregarded by the Democrats in red states.
On Tuesday, JPMorgan Chase and Disney said they’d use the tax cuts to boost pay and bonuses for their workers.
President Trump praised the news report in an early morning tweet on Wednesday,saying that there is “tremendous investment” heading to the United States from other countries. Trump is confident that “massive” deregulation and tax cuts are a perfect combo for making America a powerhouse again.
Image Source: Pixabay
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