Southwest announces plan to give $1000 bonuses to employees

Southwest announces plan to give $1000 bonuses to employees
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Southwest Airlines said on Tuesday that its employees will receive a $1,000 cash bonus this month in celebration of the GOP's rewrite of the tax code. 

The bonuses, set to go out Jan. 8, will be given to all full-time and part-time employees, the airline said in a statement

"We applaud Congress and the President for taking this action to pass legislation, which will result in meaningful corporate income tax reform for the transportation sector in general, and for Southwest Airlines, in particular," said Gary Kelly, Southwest's chairman and CEO.

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"We are excited about the savings and additional capital, which we intend to put to work in several forms – to reward our hard-working Employees, to reinvest in our business, to reward our Shareholders, and to keep our costs and fares low for our Customers," he added. 

Southwest also said that it would increase its fleet investment with aircraft manufacturer Boeing.

The sweeping tax-reform plan cleared the House and Senate last month, before it was signed into law by President TrumpDonald John TrumpTrump appears to confirm deal on Chinese firm ZTE Judge rejects Manafort's attempt to throw out some charges Dem: Trump’s policy of separating children, parents at border ‘would shock Jesus’ MORE

The plan cuts the corporate tax rate from 35 percent to 21 percent and offers more modest reductions in individual tax rates. Republicans have touted the plan as a way to bolster economic growth, while Democrats have argued that it amounts to a massive windfall for the wealthiest Americans.

A number of companies have already announced similar bonuses for their employees since the legislation was signed into law, including AT&T, Comcast and Bank of America.