Money Growing on Trees: Dollar Tree Raises Wages, Increase Hours, Expand Maternity Leave Because of Tax Cuts and Jobs Act

WASHINGTON, D.C. – Dollar Tree joined the hundreds of other companies bucking Democrats’ predictions billing the Tax Cuts and Jobs Act as “Armageddon” by announcing the company will put more money in their employees’ pockets by spending $100 million to raise hourly wages, increase the availability of hours to work, establish paid maternity leave, and increase contributions to retirement plans.

Dollar Tree’s announcement is of note, as they stack on to the list of over 400 other companies and counting that are announcing pay raises, over $4 billion in bonuses, better benefits, and more hiring for over 4 million Americans because of the Tax Cuts and Jobs Act.

Although nine out of ten Americans are now seeing higher paychecks from the tax cuts enacted under this bill, every single Congressional Democrat voted against these pay increases for American workers, and instead are barking up the tree of just trying to give out tax breaks to the wealthiest. This makes no ‘cents’ to voters, as they see record levels of green in their pockets. 

Will Democrats explain why they continue to oppose higher paychecks and more job opportunities for American workers?

To see the paper Dollar Tree put out on their announcement, click here or see below.

To see the growing number of companies increasing wages, investments, jobs, and bonuses because of the Tax Cuts and Jobs Act, click here.

Dollar Tree: Impact of the Tax Cuts and Jobs Act of 2017 (TCJA)
March 7, 2018

…As noted previously, the Company benefited in the fourth quarter and fiscal 2017 with respect to the TCJA. The Company expects to continue to benefit going forward and currently estimates the benefit to be approximately $250 million for fiscal 2018. As a result of the estimated cash benefit, the Company plans to invest approximately $100 million through the following actions:

  • Invest in stores with more hours, including training for associates,
  • Invest in people with increased average hourly rates,
  • Add Family Dollar eligible associates to the Defined Contribution Plan starting in fiscal 2017 and increase contributions in fiscal 2018, and
  • Establish paid maternity leave for eligible associates.