Stauber: Check your paychecks, Northeastern Minnesotans
March 10, 2018
Candidate’s View: Check your paychecks, Northeastern Minnesotans
In February, the IRS officially updated the income tax withholding for 2018 and beyond. That meant that about 90 percent of all Americans earning a paycheck began to see the full benefits of the recent congressional Tax Cuts and Jobs Act.
Northeastern Minnesotans, check your paychecks. You likely already have noticed an increase in the amount you take home from the beginning of this year. That is a direct result of the tax cuts the Republicans in Congress passed. In fact, the median tax cut for all households in Minnesota’s 8th Congressional District is $1,733. A couple thousand dollars may not seem like a lot of money for San Francisco or New York, but it sure is for Aitkin and Willow River and every 8th District city in between.
And it’s not just Northeastern Minnesotans who appreciate this good news. More than 200 companies around the U.S. already have announced investments in their workforces, including pay increases, bonuses, and improvements to benefits.
For example, Walmart just gave raises to more than 1 million employees, expanded maternity and parental leave, and will provide $5,000 for employees who adopt children.
In addition, “Tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees,” AT&T Chairman and CEO Randall Stephenson announced. And that’s what AT&T did, giving $1,000 bonuses to 200,000 employees while also announcing a $1 billion increase in capital expenditures.