| WASHINGTON, D.C.— McDonald’s delivered a large nugget of good news to their workers today by announcing that the company will use the savings it sees under the Tax Cuts and Jobs Act to expand their education benefits program to double the amount of workers eligible to 400,000 and tripling the amount of money they can receive to help pay for school tuition.
The announcement comes along with the other flurry of good economic news for workers and businesses in the months following the enactment of the bill. McDonald’s now joins thenearly 500 other companies who are providing increased benefits, raises, bonuses, and hiring investments as a result of the Tax Cuts and Jobs Act.
To see the full announcement, click here or read below.
To see the growing number of companies increasing wages, investments, jobs, and bonuses because of the Tax Cuts and Jobs Act, click here.
Associated Press: McDonald’s Expands Working Tuition Benefits, Citing Tax Law
March 29, 2018
NEW YORK (AP) — McDonald’s, citing the new U.S. tax law and the tightening job market, is expanding its 3-year-old education benefits program, tripling the amount of money some workers can get each year to help pay for college or trade school tuition.
The fast-food company is also changing its eligibility rules, which it says will double the number of workers who qualify to 400,000.
Other chains, including Starbucks, have given workers bonuses or boosted benefits because of the Republican tax law. Large employers have also had a hard time attracting and keeping workers because of historically low unemployment rates.
McDonald’s Corp. says restaurant crew members will be able to get up to $2,500 per year for tuition, an increase from $700. Managers can receive up to $3,000 per year, an increase from $1,050. |