Companies step up to plate after tax cut



Companies are beginning to climb on board with bonuses following the passage of the tax bill.

The latest Delaware-based companies to announce the payout is student loan servicer Navient. Comcast, which has more than 1,000 employees in the First State also joined in the flurry of announcements. 

PNC, Wells Fargo and Bank of America earlier announced plans to raise starting pay to $15 an hour, with PNC adding a bonus.

One of the nation’s largest employers, AT&T announced a $1,000 bonus, although the news came with reports that the company was laying off hundreds of employees in its shrinking  landline business. A similar report surfaced regarding Comcast. However, both companies are still hiring in other areas. 


Delaware Supermarkets, the Shoprite owner in northern Delaware, plans to invest money in training, as well as a $150 bonus for most employees.

WSFS, citing changes in the tax law, announced a $1 million-plus contribution to its foundation.

Critics of the tax bill claim most of the benefits will move over to the wealthy and shareholders.

According to one columnist, pharmaceutical giant Pfizer chose to pocket the tax break and shut down what some see as a vital research effort. 

Pfizer’s gains should make their way to  shareholders. That’s not a bad thing since many rely on IRAs and 401 (k) accounts for current or upcoming retirements. However, the benefits will be limited if the tax cuts  don’t spur  investments in plant, equipment, research and people. 

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