After Trump’s Tax Plan was passed on Wednesday, joy was felt around the country as individuals and businesses embraced the hope that it brings to America’s economy that has been booming ever since President Trump took office. Wells Fargo’s latest move is a clear indicator of what is to come as a result of tax reform.
According to Market Watch, Wells Fargo & Co. WFC, announced a major decision that will greatly impact its workers and the community alike.
The Market Watch report says Wells Fargo has decided to “raise its hourly minimum wage to $15.” This wage increase is an 11% raise from $13.50 U. S. Wells Fargo employees were getting prior before their announcement. And that’s not the only generous move the company has in store.
Wells Fargo also plans to give $400 million to community and nonprofit organizations in 2018. This, according to the report, is a 40% increase from 2017. They plan in contributing the millions of dollars to the United Way, Habitat for Humanity as well as programs that help people buying homes.
The company did not say if their decision was a result of the recently passed Tax Reform, but the timing of it almost certainly suggests this.
Will other American companies follow suit of what Wells Fargo did? We shall see. But you can’t help to be uplifted by what their decision implies.
Instead of being forced by the government to increase wages, Wells Fargo did it on their own and it is likely due to the relief they have already felt as a result of what Trump’s Tax Plan means.
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Main Article Image: Washington Examiner, Wells Fargo, Dagger News Compilation