WASHINGTON – Congressman Robert Pittenger (NC-09) released this statement reacting to news that Lowe’s Companies, Inc. (Lowe’s) will be awarding its 260,000 U.S. employees one-time bonuses of up to $1,000 thanks to the Tax Cuts and Jobs Act. Lowe’s is headquartered in Mooresville, North Carolina.
“This tremendous news is more proof that tax reform is working – it’s working for hardworking American families and it’s working for business of all shapes and sizes. Businesses are growing, expanding and investing in American workers. This has materialized in the form of higher wages, bonuses, better benefits and ultimately greater opportunity. What we are seeing is the positive effects of an economy and business environment that is now globally competitive.”
Lowe’s joins many other North Carolina companies, including Charlotte Pipe and Foundry, SteelFab and Bank of America, in awarding bonuses to their employees.
*Charlotte Pipe and Foundry is paying out $1,000 bonuses to all of their 1,400 employees.
*SteelFab, which is also based in Charlotte, has announced that their 800 employees will be receiving $1,000 bonuses thanks to the Tax Cuts and Jobs Act.
*Charlotte-based Bank of America awarded $1,000 bonuses to roughly 145,000 employees.
*Since the passage of the Tax Cuts and Jobs Act in December 2017, over 3 million American workers have received bonuses.