Very few corporations have announced wage increases since the corporate tax cuts were passed on December 20, 2017. Of those that have, the increases almost all have been for entry-level pay and frequently increased to $15 an hour.
Many corporations have not provided cost estimates for their wage increases. In addition, many have not specified their previous minimum wage or the number of employees that are eligible for increases. In those cases, ATF has estimated these numbers based on Bureau of Labor Statistics (BLS) data on median wages by industry and occupation. An asterisk after a company’s previous minimum wage indicates that it is estimated based on BLS data or another source indicated in the Sources/Notes Column. For a detailed explanation of the assumptions behind these calculations, visit the Methodology page.
While tax law proponents are quick to claim that recently announced wage increases are a direct result of the tax cuts, many likely would have occurred anyway. With the unemployment rate lower than it has been in nearly two decades, corporations are competing for workers by offering higher wages and other benefits. Additionally, 18 states raised their minimum wages in 2018, and many corporations are responding to those changes.
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