(CNN) – Disney announced Tuesday it will give 125,000 employees a $1,000 cash bonus as well as invest $50 million in a tuition program.
Disney CEO Bob Iger said in a statement, “These initiatives will have both an immediate and long-term positive impact.”
The company credits the new tax bill, which cut the corporate tax rate from 35 percent to 21 percent.
The Disney bonus will be given to full- and part-time, non-executive employees who have worked for the company since at least Jan. 1, 2018.
The education initiative will be available to nearly 88,000 hourly employees in the U.S, according to CNBC.
Several companies, including AT&T, Walmart, American Airlines and Bank of America, have promised similar incentives.
President Trump has praised the response.
Tremendous investment by companies from all over the world being made in America. There has never been anything like it. Now Disney, J.P. Morgan Chase and many others. Massive Regulation Reduction and Tax Cuts are making us a powerhouse again. Long way to go! Jobs, Jobs, Jobs!
— Donald J. Trump (@realDonaldTrump) January 24, 2018
Others argue the law benefits companies and investors more than workers.
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