President Donald Trump praised Wednesday Disney and J.P. Morgan Chase for their new investment, adding that the new tax reform is making the U.S. a “powerhouse” once again.
“Tremendous investment by companies from all over the world being made in America. There has never been anything like it. Now Disney, J.P. Morgan Chase and many others. Massive Regulation Reduction and Tax Cuts are making us a powerhouse again. Long way to go! Jobs, Jobs, Jobs!,” Trump wrote.
Both companies announced on Tuesday that raises and bonuses will be given to their employees.
According to The Hill, Disney said 125,000 of its employees would receive a $1,000 cash bonus, while J.P. Morgan said 22,000 of its employees would receive raises. The bank also said it will add jobs and open 400 new locations in the U.S.
Previously, Apple announced a new set of investments to build on its commitment to support the American economy and its workforce, concentrated in three areas where Apple has had the greatest impact on job creation: direct employment by Apple, spending and investment with Apple’s domestic suppliers and manufacturers, and fueling the fast-growing app economy which Apple created with iPhone and the App Store.
Apple is already responsible for creating and supporting over 2 million jobs across the United States and expects to generate even more jobs as a result of the initiatives being announced today.
Also, Verizon joined the major companies in rewarding employees with incentives tied to the passage of a GOP-backed tax reform bill.
The telecom giant will give nearly all of its employees 50 shares of restricted stock, worth roughly $53 each as of this week, a source with knowledge of the equity award confirmed to Fox News. The share prices will be set in February.
The tax bill reduces the corporate tax rate from 35% to 21% and changes the way the U.S. government taxes companies that also operate internationally.
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