Starbucks: GOP Tax Cuts “Accelerated” Wage & Benefit Increases

Starbucks employees are benefiting from the Tax Cuts and Jobs Act enacted by congressional Republicans and President Donald Trump. According to the company, the tax cuts "accelerated" wage increases, employee stock grants, and Partner and Family Sick Time benefits."These offerings will total more than $250 million for more than 150,000 partners and are accelerated by recent changes in the U.S. tax law," the company said in a January 2018 statement.

In a letter to employees, Starbucks CEO Kevin Johnson wrote:  Investing in our partners has long been our strategy, and due to the recent changes in U.S. tax law, we are able to accelerate some significant partner investments to continue our leadership as the retail industry leader in total compensation and benefits.   

Excerpts of the Starbucks company statement can be found below:  Building on a long history of providing relevant, industry-leading benefits, Starbucks Coffee Company (NASDAQ: SBUX) today announced a series of new partner (employee) offerings that span across wage and benefits. These offerings will total more than $250 million for more than 150,000 partners and are accelerated by recent changes in the U.S. tax law.