United Technologies joined the league of major companies rewarding their employees with bonuses and announcing new hires in response to Republican tax reform. The Tax Cuts and Jobs Acts, signed into law last December, cuts the corporate tax rate from 35 percent to 21 percent, giving employers the opportunity to give back to their workforce.
United is hiring 35,000 employees and more than $15 billion in research and development and capital expenditures in the United States over the next five years, the company announced Wednesday.
"The competitive tax system resulting from U.S. tax reform is encouraging global companies, such as United Technologies, to make long-term investments in innovation in America," the company explained.
The good news makes House Minority Leader Nancy Pelosi's "crumbs" remark more awkward and out-of-touch by the day. She was confronted again about the comment during a CNN town hall Wednesday. A small business owner told her how, thanks to tax reform, he had been able to give his employees $1,000 bonuses and a 5 percent pay increase.
"It certainly was not crumbs to them," he observed.
"I congratulate you and commend you because you're a rarity," Pelosi said, inviting the audience to applaud him. "Only a small percentage of businesses shared their tax advantage with their employees so let us thank you for that."
Again, her minimalist language is getting her in trouble. The "small percentage" she is referring to includes over 500 companies. The likes of Boeing, Darden Restaurant Group, Visa, and Aflac all have gifted workers bonuses and benefits and invested millions in their workforce.
Before tax reform became reality, Pelosi predicted it would be Armaggedon.
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