BURNSVILLE, Minn. – A Burnsville-based company is the latest company to announce large bonuses following the GOP tax cuts.
In December, the Republican Congress passed the Tax Cuts and Jobs Act, implementing sweeping tax reform including significant corporate tax reform. Under the new legislation, the corporate tax rate drops from 35 to 21 percent. While Democrats attempted to slam the bill as a giveaway to CEOs and high-income earners, companies all over the country have already reacted positively, passing on the tax cuts to employees through bonuses, pay raises, and business expansion.
On Monday, Burnsville-based Data Sales Co., a full-service IT lessor, announced a special bonus plan as a result of the tax cuts. All of the company’s employees will receive a cash bonus of $1,000 to show “appreciation and heartfelt thanks for their service.”
“Our hard-working employees make this company succeed, and we wanted them to share in the savings the company will see and also help grow our economy,” Paul Breckner, President of Data Sales Co., said in a press release. “I also want to thank our local Congressman Jason Lewis for his consistent advocacy of tax reform and seeing it through to becoming law. With the majority of our 80+ strong workforce here in Burnsville, I’m pleased that the benefits of tax reform will be felt at home.”
Rep. Jason Lewis was quick to praise Data Sales Co. for “sharing the benefits of tax reform.”
“I applaud the leadership Paul Breckner and Data Sales Co. are showing in sharing the benefits of tax reform,” Lewis said in a press release. “Minnesotans are seeing relief in their own paychecks, and tax reform has made businesses far more internationally competitive. I’m glad that folks at home in Burnsville will be benefiting from Tax Reform Bonuses.”
Over 220 companies have announced special bonus plans, pay raises, and 401k contributions since the Tax Cuts and Jobs Act passed, including several Minnesota-based companies. View a comprehensive list here.