House Minority Leader Nancy Pelosi on Thursday slammed President Trump’s tax reform that led to companies giving as large as $2,000 bonuses as “crumbs,” despite praising Obama-era $40 tax cut to workers as a “victory for America” in 2011.
Following the passage of sweeping tax cuts, including lowering the corporate tax from 35 percent to 21 percent, multiple companies have given out bonuses and pay rises for its workers amid anticipating tax savings.
Companies such as AT&T have given $1,000 bonuses to 200,000 employees while at least 60,000 workers at Fiat/ Chrysler received bonuses worth up to $2,000.
“In terms of the bonus that corporate America received versus the crumbs that they are giving to workers to kind of put the schmooze on — it’s so pathetic,” she told reporters Thursday. “I think it’s insignificant.”
Back in 2011, however, Pelosi was singing a different tune – praising a $40 payroll tax cut passed by President Obama as “a victory for all Americans” that will “make a difference.”
“The American people spoke out clearly and, thanks to President Obama’s leadership, 160 million Americans will continue to receive their payroll tax cut – nearly $40 per paycheck in the pockets of the average family,” she said at the time. “I salute the work of the unified House Democratic caucus on behalf of the American people.”
According to Saving.org’s inflation calculator, $40 in 2011 is equal to $44.06 in today’s dollars.
At least two million U.S. workers received bonuses, pay rises and other perks from at least 130 companies, The Washington Times reported. Most of these companies point to the Trump tax plan as the impetus.
The Associated Press contributed to this report.