Tax Reform Works
VIDEO: Lancaster County's Bryant Glick Supports Tax Reform at the White House
Meet Matt and Amy
Matt and Amy are married and live in Lancaster County. Because of the GOP tax reform bill, they will keep more of their own money -- more than $3,000 more! They wrote to me after they saw their first paycheck with the new federal tax withholding.
February 2, 2018
Dear Congressman Smucker,
I just recieved my first paycheck impacted by the tax reform bill that you voted "yea" on and helped pass. Thank you! I saw an increase of $59.90 in my paycheck. My wife and I make approximately the same salary. Our household take home pay will increase by roughly $3,100 per year! Anyone who thinks that won't have a major impact on us is a fool. Please keep the momentum going. Good things are happening and Washington finally seems to be getting things done. Be bold and keep up the good work.
How Are You Going to Use Your Tax Savings?
Here are just some of the many ways our neighbors and community members are using their tax savings:
- Ken from Chester County: "My daughter has special educational needs. Although she is only in second grade, my wife and I recognize the value of a strong educational foundation and have enrolled her into a private school, where any and all of our savings are going."
- Gage from Lancaster County: "We are a family of four and we will use the savings towards purchasing our first house."
- Gerry from Lancaster County: "My wife and I just enrolled our son in pre-K for next year. The additional money we keep will help pay for that."
- Leah from Chester County: "My husband and I are starting a small side business. The tax savings will help us to self-fund our product development."
- Bruce from Lancaster County: "Spend it by putting it back into the economy. I love the idea of us keeping more of the money we earned, spending it, generating the need for more goods and services, creating more jobs, and probably increasing tax revenues into the treasury the way it did in the late eighties and early nineties."
- Charles from Chester County: "Tax relief is important to our family because as senior citizens our income is limited and is not increasing. Therefore, we barely keep up with inflation. Thus, we can use the money we do not pay in taxes for the usual and necessary expenses we face and still have a little left for other activities such as a meal out or gifts for our grandchildren."
- John from Berks County: "Continued savings for future needs."
- Thomas from Chester County: "I have two granddaughters living with me, and my wife and I are retired. The extra money will help with household expenses incurred with having four people in the house as opposed to just two."
- John from Chester County: "My wife works and I'm retired. We will save $1,500 on my wife's salary and $500 on my pension."
- Robert from Lancaster County: "Going to purchase new Energy Star windows to save even more money. Thank you!"
- William from Lancaster County: "Purchase a new pair of shoes for my children."
- Gerald from Chester County: "My family will put the small increase to make some much-needed car and home repairs."
- James from Lancaster County: "We are a married couple. We would use tax savings for improvements and repairs to our house, as well as debt."
- Jon from Lancaster County: "Save, save, save for retirement."
- Michael from Lancaster County: "Spend it on my family, and we plan on purchasing a vehicle."
- Kenneth from Lancaster County: "Invest in new geothermal HVAC which also comes with a 30 percent tax credit."
- Judy from Chester County: "Handle living expenses a bit more comfortably in retirement."
- Mary from Lancaster County: "I'm an individual and I plan to use it to pay off debt. I'm appreciative of any extra pay in my check."
- Gerard from Lancaster County: "Put it towards our savings account."
- Sergio from Berks County: "I will use my tax savings to pay off some debt."
- George from Lancaster County: "We will be saving the money for our future years of retirement."
- David from Lancaster County: "It allows me to put more money into my 401(k) and a little more spending money."
- Holly from Lancaster County: "I'm going to put it towards groceries and utilities."
- John from Chester County: "We will probably save some and spend some on things we like but don't usually buy."
- David from Chester County: "Pay for a local nursery to do some landscaping."
- Robert from Lancaster County: "It will help pay for my daughter's college tuition."
- Carl from Lancaster County: "I will have more money available to save for retirement."
- James from Chester County: "Save the money for grandchildren's college fund, and travel to visit family."
- Patrick from Lancaster County: "We will use it for savings and home improvements."
- Robin from Lancaster County: "Being close to retirement, the plan is to stash it away for a rainy day, unexpected emergency, or unplanned health issue."
- Christine from Berks County: "Remodel the kitchen and get new carpet for upstairs bedrooms."
- Dale from Lancaster County: "It raises my income so it makes paying the bills easier."
- Rick from Lancaster County: "401(k) retirement savings accounty, local shop and eatery spending, and charity."
- Nancy from Lancaster County: "College savings, and to send our high school son to an educational camp this summer out of state."
- Thomas from Lancaster County: "I am an individual and I will use my $1,900-a-year tax savings to help decrease my debt and help family members with college expenses."
- Robert from Lancaster County: "We are going to work on getting out of debt. We would also like to help out our church and community more."
Companies across the nation are sharing the benefits of GOP tax reform with their workers. They are raising wages, awarding bonuses, and increasing 401(k) matching. Here is a list of Pennsylvania companies investing in their employees:
1st Summit Bank (Johnstown, Pennsylvania)
1st Summit Bank provided a $1,000 bonus to all full-time employees on top of 2017 year-end bonuses, raised its salary ranges, and increased its charitable giving budget by 10 percent. More here.
AccuWeather (State College, Pennsylvania)
AccuWeather provided special year-end bonuses to all employees, over and above other compensation, benefits, and year-end bonuses to which employees may be entitled.
"The bonuses are possible due to the company's robust financial performance in 2017 and strong confidence in the growing U.S. and global economy now that the Tax Bill has passed." More here.
American Bank (Allentown, Pennsylvania)
American Bank awarded $1,000 bonuses for all 60 employees.
"Beginning in 2018, we expect to see benefits from the recent tax reform due to lower corporate tax rates. As we celebrate the holiday season and prepare to close out another year of growth at American Bank, the Board of Directors and senior management want to give back to our team members who are directly responsible for our success." More here.
Beneficial Bank (Philadelphia, Pennsylvania)
Beneficial Bank raised its base wage to $14 per hour, awarded $1,000 bonuses, and is matching 4.5% contributions to 401(k) plans. More here.
Comcast (Philadelphia, Pennsylvania)
Comcast awarded $1,000 bonuses to 100,000 employees, and is investing $50 billion to improve its infrastructure over the next five years.
"Based on the passage of tax reform and the FCC's action on broadband, Brian L. Roberts, Chairman and CEO of Comcast NBCUniversal, announced that the Company would award special $1,000 bonuses to more than one hundred thousands eligible frontline and non-executive employees." More here.
Customers Bank (Wyomissing, Pennsylvania)
Customers Bank increased its charitable contributions by $1,000,000.
"By increasing our charitable giving and investing in our talent, we're investing in the growth of the communities we serve." More here.
Fidelity Bank (Dunmore, Pennsylvania)
Fidelity Bank awarded $1,000 bonuses to all full-time employees making less than $100,000 per year, and is increasing charitable contributions by $500,000.
"The tax reform law creates an opportunity to reward our most valuable asset, our Bankers, who are working hard each day to serve our clients, building strong relationships in our communities, and creating long term shareholder value." More here.
F.N.B. Corporation (Pittsburgh, Pennsylvania)
F.N.B. Corporation raised its base wage to $15 per hour, increased charitable donations, and is investing an additional $1,000,000 in 401(k) matching.
"We are pleased that the current tax law changes present the opportunity for substantial benefits for our clients, employees, communities, and shareholders." More here.
Fulton Financial (Lancaster, Pennsylvania)
Fulton Financial raised its base wage to $12 per hour, awarded bonuses for its 3,700 employees (1,500 in Lancaster County), and is increasing charitable contributions by $2 million.
"At Fulton, we understand that our future is connected to the communities where we operate and the employees who serve them. It makes sense for us to share the benefits of tax reform, and we're very pleased to be able to give back to our communities and employees." More here.
Kish Bancorp (Belleville, Pennsylvania)
Kish Bancorp awarded $500 bonuses to part-time employees and $1,000 bonuses to full-time employees, is adding $10 million in capital expenditures over the next three years, and will raise their base wage.
"This Tax Cuts and Jobs Act will be very favorable for banking by reducing corporate income tax rates, stimulating the economy, and providing incentives to invest in infrastructure and employees." More here.
NexTier Bank (Butler, Pennsylvania)
NexTier Bank awarded $1,000 bonuses to all employees, is providing tuition reimbursement on job training, and raising wages for hourly employees.
"NextTier Bank today announced an investment in its workforce with a one-time bonus of $1,000 for all employees as a result of the tax reform bill passed by the U.S. Congress and signed by President Trump." More here.
View the full list of hundreds of companies across the country sharing the benefits of tax reform with their employees and their communities here.