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INDIANAPOLIS, Ind. – Americans for Prosperity-Indiana (AFP-IN) on Friday responded to an ad released by Senator Chuck Schumer’s Senate Majority PAC. The ad attempts to defend Sen. Joe Donnelly’s vote against the Tax Cuts and Jobs Act by arguing the tax cuts aren’t helping working Hoosiers despite relief at every income bracket, bonuses, wage hikes, and new business investment. AFP-IN, on Thursday, released an ad highlighting a small business owner empowered to reinvest in her businesses as a result of the new tax law.
AFP-IN State Director Justin Stevens issued the following statement:
“Middle-class Hoosiers are seeing real benefits from the new tax law and won’t be talked into turning against it by a misleading ad from New York’s Chuck Schumer that essentially tells Hoosiers not to believe their bigger paychecks.
“The new tax law is working and gaining in popularity because of pro-growth policies that Sen. Donnelly said he supported but then voted against. Sen. Donnelly’s ‘No’ vote gets harder to defend with each increased paycheck, bonus, and new job enjoyed by Hoosiers.
“Our Indiana activists will continue to hold Sen. Donnelly accountable for his vote against the tax cuts and to call on him to oppose any policies that would undermine its benefits for hardworking Americans.”
Joe Donnelly Supported Precisely The Types Of Tax Cuts That Senate Majority PAC Is Attacking
In Their Latest Ad Defending Donnelly’s Vote Against Tax Reform, Senate Majority PAC Attacks The Tax Reform Law For Lowering Rates For Corporations. “They say the new tax law was written to help families like mine. But so much of it goes to millionaires and big corporations.” (“Tough,” Senate Majority PAC YouTube, 3/15/18)
In 2012, Donnelly Called For Reducing The Corporate Tax To 25 Percent, Saying It Would Bring Companies Back To The U.S. “I would support reducing the tax on small businesses, and all businesses, corporations to 25%. And what we’re able to do by that is it’s able to make our companies more competitive and it will help us to be able to bring more businesses right back to our own country.” (“2012 Indiana US Senate Debate,” IndianaDebate YouTube, 10/16/17, @12:21)
Despite Senate Majority PAC’s “Concern” About How Letting Americans Keep More Of Their Hard-Earned Money Would Add To The National Debt, Joe Donnelly Supported A Reckless Budget Deal That Could Increase Federal Spending By $1.5 Trillion
Senate Majority PAC Attacks The Tax Reform Law For Adding To The National Debt. “They say the new tax law was written to help families like mine. But so much of it goes to millionaires and big corporations. And it’s added trillions to our national debt.” (“Tough,” Senate Majority PAC YouTube, 3/15/18)
In February, Joe Donnelly Voted In Favor Of The Two-Year Budget Deal. (H.R. 1892, Roll Call Vote #31: Passed 71-28: R 34-16; D 36-11; I 1-1, 2/9/18, Donnelly Voted Yea)
Hoosiers Are Already Reaping The Benefits Of Tax Reform.
The Typical Family Of Four Earning The Median Family Income Will Receive A Tax Cut Of $2,059. “Today, Congress officially sent the Tax Cuts and Jobs Act (H.R. 1) to President Trump, who will soon sign pro-growth tax reform into law for the first time in 31 years. … For the typical family of four earning the median family income of $73,000, with this bill they will receive a tax cut of $2,059.” (“By The Numbers: Tax Cuts And Jobs Act Delivers Tax Cuts For Families In Every Congressional District,” House Ways And Means Committee, 12/21/17)
Workers Seeing Higher Take-Home Pay As A Result Of Tax Reform. “The contentious tax overhaul is beginning to deliver a change that many will welcome — bigger paychecks. Workers are starting to see more take-home pay as employers implement the new withholding guidelines from the IRS, which dictate how much employers withhold from pay for federal taxes. Those whose checks have remained the same shouldn’t fret — employers have until Feb. 15 to make the changes.” (Sarah Skidmore Sell, “Tax Bill Beginning To Deliver Bigger Paychecks To Workers, Associated Press, 2/1/18)
First Merchants Corporation In Muncie, Indiana Announced It Will Increase Hourly Employees’ Wages $1 Per Hour As A Result Of The Tax Reform Bill. “First Merchants Corporation announced today that it will raise the wage paid to hourly employees by $1 per hour as a result of the Tax Cuts and Jobs Act of 2017 signed by President Trump in Dec. 2017. … Additionally, as a reward for the company’s strong 2017 performance, all associates, excluding senior management, will receive a $500 one-time cash bonus. Part-time associates will receive a pro-rated share. The compensation investments will impact nearly 90 percent of First Merchants’ 1,700 employees and will be in addition to the company’s existing incentive programs and annual merit increases. … First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana.” (“First Merchants Announces Company-Wide Raise, Bonuses,” NASDAQ, 1/16/18)
First Farmers Bank & Trust In Converse, Indiana Announced That It Would Raise The Minimum Wage For All New Employees And Provide A Minimum Year-End Bonus Of $750 To All Full Time Employees. “In response to the recently passed legislation affecting corporate tax, Gene Miles, President and CEO of First Farmers Bank & Trust recently announced a new corporate wage and community support program that commits to four points of emphasis. 1. Raise the minimum hourly starting wage by $2.50 for all new FFBT employees. 2. Provide a minimum year-end bonus of $750 annually to all full time FFBT employees.” (Press Release, “First Farmers Announces Employee Wage Raise And Community Investment Program,” First Farmers Bank & Trust, 12/26/17)
PNC Financial Services Announced It Would Provide Bonuses To 90% Of Its Workforce Below A Certain Compensation Band, Raise Its Minimum Wage, And Increase Its Contribution For Employees In The Defined Benefit Pension Plan. “PNC Financial Services became the latest company to say it will pay special bonuses to the bulk of its employees, among other workforce investments, after the tax bill was signed into law Friday. The financial services company said it will provide a $1,000 cash payment in the first quarter of 2018 to about 47,500 employees, or the about 90% of its workforce who are below a certain compensation band. In addition, PNC said it would raise its minimum wage to $15 an hour by the end of 2018, provide an additional $1,500 for employees in the defined benefit pension plan and make a $200 million contribution to the PNC Foundation, which supports early childhood education.” (Tomi Kilgore, “PNC To Pay $1,000 Bonuses, Raise Minimum Wage After Tax Bill Signed,” MarketWatch, 12/22/17)
Bank Of America Announced It Would Give $1,000 Bonuses To More Than Half Of Its Employees. “Bank of America Corp. is giving $1,000 bonuses tied to the tax-overhaul bill to more than half of its employees, making the bank the latest company to announce such a perk since the legislation passed this week. By the end of the year, the Charlotte, N.C.-based bank plans to give the one-time bonuses to employees who earn up to $150,000 a year in total compensation, according to an internal memo from Chief Executive Brian Moynihan reviewed by The Wall Street Journal. About 145,000 employees will get the perk, the memo said. The bank employs 210,000 people.” (Rachel Louise Ensign, “Bank Of America To Give Bonuses To About 145,000 Employees Following Tax Overhaul,” The Wall Street Journal, 12/22/17)
Indianapolis Star: “More Than 620 Indiana Employees [At Fifth Third Bank] Will Receive A $1,000 Bonus.” “Fifth Third President and CEO Greg Carmichael said the tax cut gave the bank an opportunity to re-evaluate what it pays employees and share some of the savings. Nearly 3,000 workers will see hourly wages rise to $15. Others will receive a $1,000 bonus … More than 620 Indiana employees will receive a $1,000 bonus, said Steven Alonso, Fifth Third’s Indianapolis group regional president.” (Fatima Hussein, “Congress Passed Tax Cuts. Will Indy’s Wages Go Up?” Indianapolis Star, 12/21/17)
ABC 21: “Prominent Northeast Indiana Bank Pledges Raises, Cites Tax Reform As Reason.” “Fifth Third bank, which has numerous locations in and around Fort Wayne, says it will raise its minimum hourly wage and provide a one-time bonus to thousands of employees now that a Republican tax reform package has been passed. The company, based in Cincinnati, intends to set a minimum pay rate of $15 per hour and to distribute a one-time bonus of $1,000 to more than 13,500 employees. It says about 75 percent of its workforce will benefit from at least one of the measures. In a news release, officials cited newly passed tax legislation, which includes a reduction in corporate tax rates, as part of the reason for the decision.” (Jonathan Shelley, “Prominent Northeast Indiana Bank Pledges Raises, Cites Tax Reform As Reason,” WPTA, 12/20/17)
Because Of Tax Reform, Businesses Are Able To Invest More In Their Own Growth
Because Of Tax Reform, A Record Number Of Small Business Owners Say “Now Is A Good Time To Expand.” “The Small Business Optimism Index jumped two points to 106.9 in January and set a record with the number of small business owners saying Now Is a Good Time to Expand, according to NFIB’s Small Business Economic Trends Survey, released today. ‘Main Street is roaring,’ said NFIB President and CEO Juanita Duggan. ‘Small business owners are not only reporting better profits, but they’re also ready to grow and expand. The record level of enthusiasm for expansion follows a year of record-breaking optimism among small businesses.’ Now Is a Good Time to Expand registered at 32 percent, the highest level in the history of the NFIB survey, which began in 1973.” (“Record Number Of Small Business Owners Say ‘Now Is Good Time To Expand’,” NFIB, Accessed 3/7/18)
Indiana Businesses Say Tax Reform Will Allow Them To Hire, Invest, And Build.
National Association Of Manufacturers: “Three Indiana Manufacturers: Tax Reform Would Allow Us To Hire, Invest And Build.” (“Three Indiana Manufacturers: Tax Reform Would Allow Us To Hire, Invest And Build,” National Association Of Manufacturers, 12/19/17)
For further information or an interview, reach Lorenz Isidro at LIsidro@afphq.org or (703) 887-7724.
Americans for Prosperity (AFP) exists to recruit, educate, and mobilize citizens in support of the policies and goals of a free society at the local, state, and federal level, helping every American live their dream – especially the least fortunate. AFP has more than 3.2 million activists across the nation, a local infrastructure that includes 36 state chapters, and has received financial support from more than 100,000 Americans in all 50 states. For more information, visit www.americansforprosperity.org
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