Tax Reform Works
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.
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.