Rep. Todd Rokita (R-IN) unveiled the CRUMBS Act, exempting bonuses received thanks to tax reform and mocking House Minority Leader Nancy Pelosi (D-CA) for saying these bonuses amounted to “crumbs.”
Rokita said in a statement regarding the Creating Relief and Useful Middle-Class Benefits and Savings Act, or CRUMBS Act:
Americans are receiving thousands of dollars in bonuses and more money in their paychecks thanks to President Trump’s tax reform, but out-of-touch Democratic leaders believe they only amount to crumbs. The CRUMBS Act will let Americans keep more of the money they receive as a result of President Trump’s tax reform, and allow them, not the government, to choose how best to spend their bonuses.
The CRUMBS Act would make bonuses in 2018 tax-exempt up to $2,500. Since President Donald Trump signed the Tax Cuts and Jobs Act, over 346 companies have given their workers bonuses, wage hikes, or increased contributions to their 401(k).
House Minority Leader Nancy Pelosi (D-CA) rebuked the recently passed Tax Cuts and Jobs Act, referring to the bill as “the end of the world” and “Armageddon.” Since President Donald Trump enacted the legislation, Pelosi referred to the benefits that Americans received from the bill as “crumbs.” She also called the benefits “pathetic.”
Former Democratic National Committee (DNC) chairwoman and Rep. Debbie Wasserman Schultz (D-FL) said in January, “I’m not sure that $1,000 goes very far for anyone.”
The American economy continues to expand under President Donald Trump and the Tax Cuts and Jobs Act.
MetLife, an insurance giant, announced this week that they institute a $15 minimum wage and invest over $10 million in their workers due to tax reform.
MetLife Chairman, President and CEO Steven A. Kandarian said:
As a result of tax reform, we are making a significant investment in our employees. We are enhancing pay and benefit programs and helping them develop skills that will make them more valuable members of our team. We are investing in their future and strengthening their long-term financial security with structural improvements that will endure. We are also channeling most of the benefits to employees at the lower end of the compensation spectrum.”
Chipotle announced on Wednesday that they will give their employees bonuses up to $1,000 and other worker-related benefits thanks to tax reform.
The economy continues to expand under President Donald Trump. Lowe’s announced last week that it will offer its workers up to $1,000 in bonuses along with other benefits. FedEx announced in January that it will commit to more than $3.2 billion in wage increases, bonuses, and American capital investment due to the Tax Cuts and Jobs Act.
President Donald Trump announced on Sunday, “4.2 million hard working Americans have already received a large Bonus and/or Pay Increase because of our recently Passed Tax Cut & Jobs Bill….and it will only get better! We are far ahead of schedule.”