Pelosi: Companies' Tax Cut Bonuses for Workers Amount to 'Crumbs'
House Minority Leader Nancy Pelosi said the bonuses being handed out to workers by businesses across the country following the passing of the Republican tax act are mere "crumbs."
Walmart on Thursday joined a growing list of companies who have decided to share the tax cut savings with employees, announcing a plan to boost pay and give bonuses worth up to $1,000 to workers. Walmart -- the nation's largest employer -- pointed to the new tax cut legislation as the reason for the move.
“In terms of the bonus that corporate America receives versus the crumbs they are giving to workers to put the schmooze on is so pathetic. It's so pathetic,” Pelosi said during a press briefing on Thursday.
“I would hope that with their big advantage of bringing money home at a very low rate that they would invest in infrastructure and things, but our experience has been that they will do dividends, do stock buybacks and things like that,” she continued. “I think it’s insignificant.”
We know how to create growth. We know how to create jobs. We know how to build strong futures for our children. Instead, Republicans forced through their #GOPTaxScam.
— Nancy Pelosi (@NancyPelosi) January 11, 2018
On "Your World," financial analyst Heather Zumarraga said a $1,000 bonus may be "crummy" to Pelosi -- one of the wealthiest members of Congress -- but it's certainly not to everyday Americans.
"This is an example of the free market economy working at its best, when the corporations are giving back to their employees," Zumarraga said.
She said that the tax bill will help all Americans, and if Democrats won't accept that now, "they will when their paychecks come in February."
Watch more above, and see Pelosi's remarks below.