This won’t make progressives happy.
Walmart, America’s largest employer, has announced it will share the benefits of the corporate tax cut with 1,000,000 of its employees. The retailer will increase minimum hourly wages to $11 an hour, a 22% increase. Additionally, the retailer will give $1,000 bonus payments to workers, depending on length of service at the company. It is also extending maternity and parental benefits to give full-time hourly employees 10 weeks of maternity leave and 6 weeks of paid parental leave, in line with what even white-collar, college-educated workers receive. Walmart employees previously received up to eight weeks of maternity leave at half-pay, and were not entitled to parental leave.
The retailer said it’s using the savings from the recent corporate tax cut to pay for the raises and benefits.
Walmart, the nation’s single largest corporate taxpayer accounting for almost 2% of all corporate income taxes paid, joins a growing list of employers to cite the Republican tax cut as impetus for increasing worker pay and benefits for millions of employees.