Growing Number of Georgia Businesses, Workers Benefiting from Tax Cuts
Thursday, February 8th, 2018
U.S. Senators Johnny Isakson, R-Ga., and David Perdue, R-Ga., today highlighted a growing number of Georgia businesses and workers who are seeing a positive impact from the historic tax cuts signed into law only seven weeks ago. More than 3 million Americans have already received bonuses, wage hikes or 401(k) match increases, including Georgia employees at the businesses below (listed alphabetically):
Aflac (Columbus, Ga.) – Increased 401(k) match from 50 percent to 100 percent on the first 4 percent of compensation plus one-time $500 contribution to every employee’s 401(k); $250 million increase in overall U.S. investment.
"We are pleased that these tax reforms provide Aflac with an opportunity to increase our investments in initiatives that reflect our company values; providing for our employees in the long and short term, ensuring future growth for our company and giving back to the community." –Dan Amos, Aflac Chairman and CEO
AR-15 Gun Owners of America (Warner Robins, Ga.) – Bonuses and increased salaries for all employees.
AT&T Southeast/BellSouth Telecommunications (Atlanta, Ga.) – Announced it would give more than 200,000 employees a special bonus of $1,000 and invest an additional $1 billion in the U.S.
Carl Black Automotive Group (Kennesaw, Ga.) – Bonuses to more than 500 employees.
Expanded Technologies, Inc. (Marietta, Ga.) – Minimum bonuses of $500 for each employee and additional cash depending on length of service.
“As a result of the Tax Cut and Job Act recently enacted by the Trump Administration, we are pleased to announce that ETI will give each of its 77 employees a bonus of $500 cash along with an additional sum for each year of service." –Jean-Luc Liverato, Expanded Technologies, Inc.
Home Depot (Atlanta, Ga.) – Bonuses of up to $1,000 for every hourly employee. Read more here.
"We are pleased to be able to provide this additional reward to our associates for continuing to deliver outstanding customer service. This incremental investment in our associates was made possible by the new tax reform bill." –Craig Menear, Home Depot Chairman, CEO and President
Lockheed Martin Corp. (Marietta, Ga.) - Plans to contribute $5 billion in cash toward its pensions and increase its commitment to initiatives such as employee training, charitable contributions for education in science and math, and the Lockheed Martin Ventures fund by $200 million.
Mincey Marble (Gainesville, Ga.) – Bonuses of up to $1,000 based on length of service.
“As the owner of a family business, I want to share how tax reform is benefitting Americans at every level. Companies big and small are passing along tax savings to the workers who help build our economy. I hope that the bonuses Mincey Marble is providing encourage other businesses in our great state to pay it forward, because the Tax Cuts and Jobs Act is the kind of meaningful change that can help transform communities by bringing relief to American workers and families." –Donna Mincey, Mincey Marble President and CEO
Shred-X (Griffin, Ga.) – Plans to use the additional savings from tax reform to purchase a new truck and hire a new employee at their company of ten people.
“This is just one practical example of how tax reform is helping us here on Main Street.” –Cade Joiner, Shred-X owner
Starbucks Coffee Company (Augusta, Ga.) – Reaffirmed its commitment to add an additional 500 manufacturing jobs at its Augusta, Ga., soluble coffee plant, where a $120 million expansion is planned for 2019; also announced new raises and benefits totaling $250 million and 8,500 new jobs nationwide.
SunTrust Banks, Inc. (Atlanta, Ga.) – Base wage increases to $15 per hour; $50 million in additional community grants; merit pay raise; additional 401(k) contributions; etc.
"The anticipated benefits from tax reform allow us to build upon our purpose of Lighting the Way to Financial Well-Being in a sustainable way by implementing actions that will have a multi-year impact for many of the constituents that count on us. We believe tax reform will improve the competitiveness of American business and promote economic growth, and this gives us confidence to invest more in our company, our teammates and the communities we serve." –Bill Rogers, SunTrust Chairman and CEO
Synovus Financial Corporation (Columbus, Ga.) – $1,000 bonuses to all non-executive employees.
Total System Services (Columbus, Ga.) – $1,000 bonuses for 11,500 employees.
“A spokesperson for the Columbus, Ga.-based credit card processor best known as TSYS told Atlanta Business Chronicle that it made an internal announcement Tuesday that team members would receive a ‘special one-time cash bonus of $1,000’ as ‘a result of the company’s continued success and the recently passed U.S. tax reform legislation.’”
UPS (Atlanta, Ga.) – $12 billion in investments to expand the company's Smart Logistics Network and increase employee pensions.
"We applaud President Trump and Congress for their bold action to improve the U.S. economy. Our investments will create new jobs, secure existing jobs and expand opportunities for our people. We are committed to remaining a preferred employer by continuing to provide industry-leading compensation and excellent career opportunities." –David Abney, UPS Chairman and Chief Executive Officer.
Yancey Bros. (Austell, Ga.) – $500 bonuses for 1,200 employees.