American rifle group hands out bonuses, boosts workers' pay after Trump's tax bill
AR-15 Gun Owners of America Association President and CEO Chris Waltz weighs in on the benefits from President Trump’s tax reform bill, which was signed into law in late December.
The CEO of a pro-Second Amendment organization is passing a portion of his profits from the tax bill to company employees.
“We already gave $300 bonuses and increased our employee salaries as well,” said AR-15 Gun Owners of America CEO Chris Waltz to FOX Business’ Stuart Varney on “Varney & Co.”
The five-year-old federal firearms licensed dealer, based in Warner Robins, Georgia, has less than 10 employees but joins a growing list of companies, including FedEx (NYSE:FDX), Wal-Mart (NYSE:WMT) and AT&T (NYST:T), raising pay and shelling out bonuses as a result of the tax bill.
Waltz also plans to reinvest a portion of the profits into his business.
“We are still building our infrastructure,” he said. “We are going to be buying new equipment, point-of-sale equipment [and] inventory equipment to update our systems.”
House Minority Leader Nancy Pelosi, last week, bashed the new tax cut savings, saying businesses across the U.S. are handing out “crumbs” to employees. However, Waltz said his workers were “very happy.”
“I can’t believe she even said that. These are not crumbs,” he said. “She doesn’t understand what it is to get a pay raise or bonus when you’re not making all that much money. She’s a multi-millionaire. Crumbs doesn’t make sense to our employees.”