Markets and Economy

Who Benefits From Corporate Tax Relief?

Watch Jim Glassman, Commercial Banking’s Head Economist, discuss how universal windfalls—like savings from the Tax Cuts and Jobs Act of 2017—can flow to individual workers.
Jim Glassman, Head Economist, Commercial Banking
March 23, 2018

Following the Tax Cuts and Jobs Act of 2017, many businesses announced plans to put their new savings toward wage increases, employee bonuses and higher contributions to retirement funds. The general public seemed surprised that companies would spend their windfall on their employees—but history shows that in a competitive job market, businesses are willing to invest more in attracting and retaining talented workers in order to stay ahead.

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