Local businesses could join the call for $1,000 bonuses for work - Toledo News Now, News, Weather, Sports, Toledo, OH

Local businesses could join the call for $1,000 bonuses for workers

(Source: WTOL) (Source: WTOL)
TOLEDO, OH (WTOL) -

The just-passed Republican tax cut bill is not popular with Democrats or many Americas who are asked about it.

But politics aside, it could give your paycheck a boost.   

“How does a thousand dollar bonus sound to you?” WTOL asked Luann Trumbull, who works in Toledo. She said, “Sounds good!”

Trumbull wishes she was part of the wave of economic “good feelings” about the new tax bill.

Fifth Third Bank announced it is raising the minimum wage to $15 an hour. And Fifth Third, AT&T, Comcast, and Boeing say they'll offer $1,000 bonuses to many employees.

“Just get everybody back on track," Trumbull said when asked about how a potential bonus would affect her. "We lose a lot of money in federal taxes out of our check.”

The raises and bonuses did not just pop up once the bill passed yesterday.

Leaders at the Toledo Regional Chamber of Commerce said companies have been planning for it and you could see local businesses joining in.

The Chamber's Brian Dicken said businesses will have to make that decision themselves, but they should have lower tax rates and more resources to invest back into their employees.

“And especially at this time of year, maybe that's one more Christmas gift they go out and buy their spouse or their kids," Dicken said. "And it just continues to keep that economic engine moving forward.”

Republican Senator Rob Portman, who voted for the tax cut bill, says Toledo's auto plants could also see the benefits.

“If you're Fiat Chrysler and you're trying to decide, are you going to put your money into a plant in Toledo, Ohio or Toledo, Spain, or into a plant in China or Japan, now it's more advantageous to invest in America,” Sen. Portman said.

But the new tax bill remains extremely unpopular among Democrats in Washington.

Democratic Senator Sherrod Brown says that it mostly helps the rich and leaves out the middle class.

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