Home Depot becomes latest corporation to give employees cash bonuses due to tax cut plan

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 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.

(Image: Shutterstock)

“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:

https://twitter.com/jbro_1776/status/956532317933244418

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Any op-ed views and opinions expressed are solely those of the author and do not necessarily represent the views of BizPac Review.

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Scott Morefield

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