There was a point in early 2018 when big American companies couldn’t stop talking about the Trump tax cuts. Flush with the projected savings from a $1.5 trillion law, they promised to raise wages, hand out bonuses to workers and invest in big projects. Wages across the economy ticked up, but not by nearly as much as some Republicans had promised when they voted for the law. Some workers did reap rewards from the law, as many companies followed through on — and even exceeded — their promises to raise wages and pay bonuses. Yet other firms have announced layoffs, despite reporting higher profits and billions of dollars in tax savings.

Source: New York Times December 27, 2018 19:14 UTC