House Minority Leader Nancy Pelosi appears to be changing her tune on whether the bonuses millions of Americans have received following passage of the Republican tax reform bill are mere “crumbs.”
AT&T was one of the very first companies to announce a $1,000 per worker bonus after Congress passed the Tax Cut and Jobs Act in December.
According to Americans for Tax Reform, at least 400 companies have announced bonuses, pay raises, 401(K) contribution hikes and other increased benefits impacting millions of the nation’s workers since.
Pelosi tweeted on Thursday, “Certainly we are thankful whenever workers get bonuses.”
However, she then took the modest praise back, adding, “But it is *incredibly* telling that companies by-and-large chose to give out one-time bonuses, and not long term raises. #GOPTaxScam.”
Trump, Vice President Mike Pence and other Republicans have ridiculed Pelosi for describing the benefits American workers have received as “crumbs.”
Speaking at the Republican retreat in West Virginia last month, Trump said, “(W)e got hit with these corporations giving tremendous bonuses to everybody that Nancy Pelosi called ‘crumbs.’ That was a bad — that could be like ‘deplorable.’”
He continued: “Does that make sense? ‘Deplorable’ and ‘crumbs’ — those two words, they seem to have a resemblance. I hope it has the same meaning. But she called it crumbs, when people are getting $2,000 and $3,000 and $1,000. That’s not crumbs. That’s a lot of money.”
Pence offered similar thoughts at the same event, saying, “It’s just amazing to me that after this tax cut passes, 3 million Americans get another thousand dollars in their pockets, in many cases. (Pelosi) actually described that as ‘crumbs.'”
According to a statement released by the White House this week, the number of Americans receiving bonuses and other benefits has now grown to over 4 million.
House Speaker Paul Ryan was touting the benefits of the tax reform law at Home Depot’s store support center in Atlanta on Thursday.
“What is now happening in America is precisely what he were hoping would happen in America by passing tax reform,” he told the building supply company’s workers.
“Our top tax rate on businesses used to be 35 percent, highest in the world, now it’s 21 percent,” Ryan stated.
He continued, “We tell businesses if you want to invest in your people, your plant, your equipment, we call it expensing, you can write off all of that investment in the year in which you do it, so that you do it.”
Ryan contended those investments are leading to businesses growing and hiring more people. He highlighted the example of Home Depot, which announced $11 billion in new capital investments in the next three years as a result of tax reform.
The speaker also offered the example of Apple, which announced plans last month — based on the new tax environment — to build a new campus in the United States that will employ 20,000 workers.
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