On the heels of reports that large companies are announcing layoffs and new customer fees just weeks after receiving multi-billion dollar tax breaks thanks to the Republican tax plan, a new poll finds that few Americans have seen any of the financial benefits that GOP leaders promised the overhaul would bring.
In a survey of more than 5,200 people taken by Reuters/Ipsos, just two percent of respondents said they’ve received an end-of-year bonus, pay raise, or other financial benefit from their company following the plan’s passage in December.
The plan was touted as a win for workers, with President Donald Trump and other Republican lawmakers pushing the narrative that companies saving money on taxes would put the financial windfall toward hiring employees and handing out raises—even as many CEOs flatly said the savings would go to their shareholders.
The poll follows Bank of America’s recent announcement that it will begin charging customers for formerly-free online checking accounts, weeks after it saved an estimated $3.5 billion thanks to the plan, and personal care corporation Kimberly-Clark’s revelation that it would lay off 5,000 workers, paying for the “restructuring” with tax savings.
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