Reprinted from The AFL-CIO blog Now on January 4, 2017. It is unattributed.
President Donald Trump and his economic advisers have said over and over again that if the Tax Cuts and Jobs Act passes, corporations will use the money from their tax cut to raise wages an average of $4,000. Companies such as AT&T have echoed the claim, saying businesses will use the tax cut to create jobs and provide higher wages for employees.
But most economists think that instead of raising wages and creating jobs in the US, corporations will use the tax cut to buy back their own stock or pay dividends to shareholders, and will use new loopholes in the bill to send even more jobs overseas.
Let’s hold them to their promises. Sign the petition to say you want them to guarantee the wage increase in writing.