The economic “nightmare” predicted by left-wing lawmakers such as Nancy Pelosi and Chuck Schumer continued this week, with more and more major American corporations announcing increased wages and big bonuses following the GOP-led tax cuts.
Less than one day after House Minority Leader Nancy Pelosi blasted the tax legislation as “pathetic crumbs” to working-class families, Fiat Chrysler and Capital One pledged to raise wages and pay out big bonuses to American-based workers as a direct result of the Republican tax overhaul.
— CNBC Now (@CNBCnow) January 11, 2018
In addition, Chrysler officially announced its plan to relocate a major production plant from Mexico to Michigan “in response to the passage of U.S. tax reform late last year.”
“BREAKING: Fiat Chrysler to invest $1B+ to modernize a Michigan plant, in addition to previous $1B investment in the plant; will add 2500 new jobs, and will give $2,000 bonuses to 60,000 of its hourly and salaried employees in the US because of tax reform,” tweeted CNBC.
Chrysler and Capital One join a growing list of major American corporations –such as AT&T, Boeing, Southwest Airlines, Walmart, and others- raising wages and re-investing in the United States after the GOP and President Trump successfully passed the largest overhaul of the nation’s outdated tax code in generations.