McDonald’s increases tuition benefits following changes in tax legislation
McDonald’s, the fast food giant, recently announced that it will be boosting its tuition benefits for employees due to the changes in the new tax law. The company will now be offering up to $2,500 per year for tuition assistance, which is double the previous amount of $1,250.
This move comes as a response to the Tax Cuts and Jobs Act that was passed in December 2017. The new law includes several provisions that benefit corporations, including a significant reduction in the corporate tax rate. With the extra savings resulting from the lower tax rate, companies like McDonald’s are choosing to reinvest in their workforce and offer more benefits to employees.
The increased tuition assistance is just one way that McDonald’s is demonstrating its commitment to employee development and advancement. The company already offers other education benefits such as a high school completion program, English as a second language courses, and college credit for on-the-job training.
McDonald’s is not the only company to make changes to its employee benefits in response to the new tax law. Many other corporations have announced bonuses, wage increases, and expanded benefits for their employees as a result of the tax cuts. These moves are seen as a way to boost morale, retain top talent, and attract new recruits in a competitive job market.
The decision to boost tuition benefits is particularly significant for McDonald’s employees, many of whom are young people working part-time while attending school. The increased assistance will help them further their education and advance their careers, ultimately benefiting both the employees and the company.
Overall, McDonald’s decision to enhance its tuition benefits is a positive development that highlights the potential benefits of the new tax law for employees. As more companies follow suit and invest in their workforce, American workers stand to benefit from increased opportunities for education, training, and career advancement.
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