House Minority Leader Rep. Nancy Pelosi (R-Calif.) pooh-poohed the growing number of wage hikes and bonuses companies are attributing to tax reform measures President Donald Trump signed into law at the end of 2017.
Asked about the proliferation of companies crediting passage of tax reform for their announcements of wage hikes and bonuses, Pelosi scoffed, calling the generous gestures “pathetic” and merely “crumbs”:
“In terms of the bonus that corporate America received versus the crumbs that they are giving workers to kind of put the schmooze on is so pathetic. It’s so pathetic.”
Pelosi scoffed that she thinks companies will use the benefits of their lower corporate tax selfishly:
“I would hope that with their big advantage of bringing money home at a very low rate that they would invest in infrastructure and things, but our experience has been that they will do dividends, do stock buybacks, and things like that. I think it’s insignificant.”
Meanwhile, companies, such as Walmart, are sharing their good fortune with their employees and utilities nationwide are announcing rate cuts – attributing their news to tax reform.
Prior to passage, Pelosi promised that tax reform would bring about “Armageddon” and “the end of the world.” – a prediction now mocked by White House Sarah Huckabee Sanders, who declared the success of tax reform to be Pelosi’s “worst fear” coming true.
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