Companies are rushing to announce special bonuses and pay hikes after the GOP tax plan

Both the House and Senate passed the final version of the Republican tax bill[1] on Wednesday, and a number of companies took the opportunity to announce special bonuses or pay hikes. 

The bill reduces the corporate tax rate to 21% from 35% while allowing a one-time repatriation of overseas cash. Companies are mostly expected to buy back stock or pay down debt with their savings. [2]

The pay hike and bonus announcements are sure to please Republican lawmakers, who have been pitching corporate tax cuts as a boost for American workers.

Here’s what has been announced so far:

References

  1. ^ final version of the Republican tax bill (www.businessinsider.com)
  2. ^ pay down debt (www.businessinsider.com)

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