Administration

Trump: Businesses are ‘showering their workers with bonuses’ after tax bill

Getty

President Trump praised the recently passed GOP-backed tax plan early on Friday, saying it has led various companies and corporations to shower “their workers with bonuses.”

“Our big and very popular Tax Cut and Reform Bill has taken on an unexpected new source of ‘love’ — that is big companies and corporations showering their workers with bonuses. This is a phenomenon that nobody even thought of, and now it is the rage. Merry Christmas!” Trump said in a tweet. 

 

Trump’s tweet comes after the House and Senate scored their first major legislative victory by passing tax reform earlier this week.{mosads}

The $1.5 trillion legislation would provide large, permanent tax cuts for corporations and smaller, temporary ones for individuals, as well as roughly double the standard deduction and increase the child tax credit.

Supporters of the plan say the corporate tax cuts within the it will bring corporations back to the U.S., leading to job creation and wage growth.

However, the plan’s critics have called it a giveaway to wealthy Americans. 

The bill currently awaits the president’s signature.

Tags Business Donald Trump economy Tax bill Trump tweets
See all Hill.TV See all Video