WASHINGTON, D.C.— American families and workers are seeing results straight out of the gate from the Tax Cuts and Jobs Act as Southwest Airlines and American Airlines bothannounce bonuses to employees of $1,000, causing paychecks to soar to new heights right on schedule for the new year.
Check out what’s arriving:
Southwest Airlines:
- All full-time and part-time Southwest employees with Southwest on Dec. 31, 2017, will receive a $1,000 cash bonus on Jan. 8, 2018.
- Additionally, they will donate $5 million to charitable causes as a result of tax reform.
- Southwest will also increase fleet investment with Boeing, which also announcedadditional investments and bonuses due to tax reform.
- “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 Southwest’s Chairman and Chief Executive Officer Gary Kelly. “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.”
American Airlines:
- American Airlines will give out $130 million in bonuses in the first quarter of 2018, amounting to $1,000 per team member.
- Doug Parker, CEO of American Airlines and Robert Isom, President of American Airlines said in a letter to employees, “…there is no doubt that our country’s new tax structure will have positive long-term benefits for American. We will be able to invest even more in aircraft and facilities, and we will be able to do so with even greater confidence about the future.”
To see the growing list of companies increasing wages, investments, jobs, and bonuses because of the Tax Cuts and Jobs Act, click here.