Will a Corporate Tax Cut Lift Worker Pay? A Union Wants It in Writing
- 7 years ago
Will a Corporate Tax Cut Lift Worker Pay? A Union Wants It in Writing
Jamie Dimon, the chairman and chief executive of JPMorgan Chase and chairman of the Business Roundtable, told the Economic Club of Chicago this week
that if Congress had already passed a tax overhaul bill, “some companies would have made huge investments.”
“We know one thing for sure: Investments drive productivity, drives jobs and wages,” he added.
“We’re going straight to the people who know how corporations plan to spend the billions of dollars being handed over to them — the C. E.O.s —
and asking them if they intend to keep the promises that Trump is making on their behalf.”
Business leaders and their lobbying groups, including the Business Roundtable
and the U. S. Chamber of Commerce, say the tax bill will increase economic growth, profits and worker pay.
In a letter sent this week to the top executives of Verizon, AT&T
and six other companies, the communications union asked them to pledge a $4,000 annual pay increase for employees for every year that the corporate rate rests at 20 percent.
This week, the Communications Workers of America asked several companies
that employ its members to promise to give workers a pay increase if the cut in the corporate tax rate goes through.
“President Trump and the Republican Congress have been trying to sell this corporate tax cut to working families by making big claims about wage increases, investment and job growth
that don’t seem to be supported by the evidence,” said Chris Shelton, the president of the union.
Jamie Dimon, the chairman and chief executive of JPMorgan Chase and chairman of the Business Roundtable, told the Economic Club of Chicago this week
that if Congress had already passed a tax overhaul bill, “some companies would have made huge investments.”
“We know one thing for sure: Investments drive productivity, drives jobs and wages,” he added.
“We’re going straight to the people who know how corporations plan to spend the billions of dollars being handed over to them — the C. E.O.s —
and asking them if they intend to keep the promises that Trump is making on their behalf.”
Business leaders and their lobbying groups, including the Business Roundtable
and the U. S. Chamber of Commerce, say the tax bill will increase economic growth, profits and worker pay.
In a letter sent this week to the top executives of Verizon, AT&T
and six other companies, the communications union asked them to pledge a $4,000 annual pay increase for employees for every year that the corporate rate rests at 20 percent.
This week, the Communications Workers of America asked several companies
that employ its members to promise to give workers a pay increase if the cut in the corporate tax rate goes through.
“President Trump and the Republican Congress have been trying to sell this corporate tax cut to working families by making big claims about wage increases, investment and job growth
that don’t seem to be supported by the evidence,” said Chris Shelton, the president of the union.