Rep. Walberg Column: Bonuses are not Armageddon

Rep. Walberg Column: Bonuses are not Armageddon

From the Detroit News:

Have you checked your paycheck this month? Odds are it went up, or it will soon. As a result of the Tax Cuts and Jobs Act, which President Trump signed into law at the end of 2017, the IRS is updating its withholding tables in the month of February. Once that happens, the U.S. Treasury estimates that 90 percent of Americans will start to see a boost in take-home pay.

Since the tax cut law was enacted, the positive benefits have been resonating across the country. Hardly a day goes by without new reports of more businesses hiring, increasing wages, and offering bonuses and other benefits like paid leave and enhanced 401(k)’s to their employees.

Here in Michigan, Fiat Chrysler is planning to create 2,500 jobs and invest an additional $1 billion in upgrading its Warren Truck Plant. That’s on top of $2,000 bonuses going out to 60,000 workers.

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