President Donald Trump and congressional Republicans continue pounding their chest over tax reform, as news broke that Walt Disney Co. would offer a one-time $1,000 cash bonus to all its employees.
The decision by Disney to do so is a direct result of the newly-minted tax reform measure that cuts the corporate tax rate to 21 percent, and enables other American companies like Verizon to also ‘give back’ to their employees.
Not only will the Mickey Mouse & Friends shell out hard cash, but will also inject $50 million to a tuition cost fund for hourly employees.
“About 125,000 U.S. employees will be eligible, the company said Tuesday in a statement, putting the cost at $125 million. Disney also plans to put $50 million into a fund to help hourly employees with tuition costs and plans to provide as much as $25 million annually for that purpose afterward.”-Bloomberg
The news must sting Florida Senator Bill Nelson (D), who adamantly opposed the tax reform bill, and now 70,000 Disney employees and their families in Florida will benefit from the tax relief.