The tax cuts recently signed into law by President Donald Trump have resulted in another local company giving back to its employees.
Sundance Vacations corporate headquarters in Wilkes-Barre recently announced that bonuses totaling more than $125,000 will be distributed to its workers.
That news was welcomed by U.S. Rep. Lou Barletta, R-Hazleton, who invited John Dowd, the president of Sundance Vacations, as his guest at Tuesday night’s State of the Union address.
“John Dowd recently announced bonuses for his employees due to the positive effects of the Tax Cuts and Jobs Act,” Barletta said. “Mr. Dowd told me that additional take-home pay for many Americans will likely lead to robust vacation sales for the company this year.”
Barletta went on to say that Americans across the country are seeing more money in their paychecks, and more opportunity for job creation and wage growth.
“Over three million workers so far are already receiving bonuses, higher wages, and new hires as a result of this historic tax rewrite,” Barletta said. “Apple, for example, has announced over $350 billion in investments in America.”
Dowd said the ability to deduct some business expenses up front rather than depreciate them over multiple years will be a major factor for company profitability. He said Sundance Vacations decided to award individual bonuses to staff members similar to corporate giants like Apple and AT&T.
Dowd said the immediate bonuses are in addition to the reduction in tax withholding that Americans will benefit from beginning in February. Hundreds of other companies are also issuing bonuses nationwide which Dowd believes will inject more spending into the U.S. economy.
Dowd said he wanted to “share the monetary benefits that the company receives with the employees that make our company great.”
Barletta said Americans will keep more of their paychecks, allowing them to pay bills or save for their children’s education.
“I am very excited for companies in Pennsylvania like Sundance Vacations as they award bonuses because of our tax plan,” Barletta said. “The future is very bright for Pennsylvania.”
Sundance Vacations is a national travel company that helps sends travelers on vacations across the U.S., Mexico, and the Caribbean.
The company is headquartered in Wilkes-Barre and maintains other offices in New Jersey and Washington, D.C.
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