Is anyone tired of winning yet?
In yet another sign that President Trump’s recently signed tax reduction is working exactly as intended, Home Depot Inc. has announced that it will give its U.S. hourly associates a one-time cash bonus of up to $1,000 in the recently ended fourth quarter.
Just another example of why the company continues to climb up Fortune’s list of Most Admired Companies.
— The Home Depot (@HomeDepot) January 26, 2018
The home improvement chain made it clear that they are funding the bonus because of U.S. tax code changes.
According to Reuters, the company will incur a $150 million fourth quarter net tax expense on unremitted offshore earnings, but will “revise its 2017 diluted earnings per share guidance lower by about 19 cents to reflect cash bonuses and the charge.”
Home Depot’s founder, Bernie Marcus, famously backed Donald Trump in June 2016 after initially supporting former Republican candidate Jeb Bush.
“I now stand in support of Donald J. Trump because the fate of this nation depends upon sending him, and not Hillary Clinton, to the White House,” Marcus wrote in a RealClearPolitics piece published at the time.
“I genuinely believe that if we to started The Home Depot today, we would fail because of the hurdles government, especially the current administration, places in front of small business owners,” he wrote.”
“Make no mistake, Republicans who refuse to stand behind their party’s nominee are electing Clinton, whether they cast their ballots for her or not,” Marcus continued. “I have a message for the #NeverTrump crowd: Enough already. Donald Trump is our presumptive nominee and it is time to get over wishing it were not so. If you don’t, change your social media hashtag to #HillaryGOP.”
The Home Depot founder had hoped for an end to the “over-regulation, over-taxation, over-litigation, and over-spending” taking place under then-President Obama.
Now that the economy is responding to the changes he was hoping would happen, Marcus is giving back to his employees.
The Home Depot announcement drew plenty of goodwill on Twitter:
— Ivanka Trump (@IvankaTrump) January 25, 2018
President Trump's Tax Reform Bill continues to pay off as Home Depot is the next company to offer their employees a large bonus due to the President's historic Tax bill. #FridayFeeling pic.twitter.com/aetJ6XQ7kn
— The Columbia Bugle 🇺🇸 (@ColumbiaBugle) January 26, 2018
I cannot put into words how well-deserved this is. This is a corporation that cares for those they serve down to the most finite detail, and one that never stops thanking the employees that make it all possible. #IBleedOrange #HomeDepot #PROUD https://t.co/uYtjcQ9OsR
— Angelique Kennedy (@AngeliqueK_HD) January 27, 2018
The list of companies giving bonuses and raising wages for hardworking Americans continues to grow! This morning, @HomeDepot announced plans to award hourly employees a cash bonus up to $1,000 as a result of GOP tax cuts. -> https://t.co/xcDXeCZ9hM
— Senator Ted Cruz (@SenTedCruz) January 25, 2018
— Bill Schuette (@SchuetteOnDuty) January 25, 2018
“Home Depot announces bonuses for 400,000 workers after tax cut” https://t.co/R1o5VefWxG
— Eric Trump (@EricTrump) January 26, 2018
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