During Portman Visit, Cincinnati-Based Worldpay Announces Higher Wages & Expanded Benefits for Employees As a Result of Tax Reform
Business Announced Bonuses, Higher Starting Pay, Improved Benefits, and Increased Charitable Giving as a Result of Anticipated Savings From the Recently-Signed Tax Reform Law
CINCINNATI, OH – Today, U.S. Senator Rob Portman (R-OH), as part of his Results for the Middle-Class Tax Reform Tour, visited the corporate headquarters of Worldpay Inc., the largest credit card processing company in the world, processing more than 40 billion payment transactions representing $1.6 trillion in volume. During this visit, the company announced cash bonuses for hourly employees up to $2,000, an hourly wage increase for certain frontline positions, a 401K match increase to 100 percent dollar-for-dollar up to five percent, a larger investment in company-wide wellness and recognition programs, and an increase in charitable giving – all as a result of the recently-signed Tax Cuts & Jobs Act.
“This is great news, and I’m excited that we continue to see real, tangible benefits from tax reform. Worldpay is a wonderful example of another Ohio-based company using the money saved from tax reform to increase pay, reinvest and give back to the community,” said Senator Portman. “This is exactly what Congress intended to accomplish while developing tax reform. More than 400 businesses across the country have announced increased investments in their companies, pay increases, bonuses, additional retirement help or new benefits—specifically because of this tax bill. We are once again re-opening the American economy as the best place in the world to do business.”
“Senator Portman has been a champion of tax reform and ensuring Ohio companies like Worldpay can remain competitive and recruit the region’s top talent,” said Charles Drucker, executive chairman and co-CEO of Worldpay, Inc. “Thanks to the Tax Cuts & Jobs Act, Worldpay is now offering its U.S. employee base additional benefits, as well as investing more in its charitable giving in the communities where we live and work.”
NOTE: Last week, Portman visited the UH Rainbow Center for Women and Children in Cleveland that was made possible thanks to New Markets Tax Credits, a program which Portman helped preserve in the Tax Cuts & Jobs Act. In addition, he visited Fredon Corporation in Mentor, and visited GKM Auto Parts. During the GKM Auto Parts visit, the company announced the decision to use their tax reform savings to reinstate health care coverage for their employees. Portman has also visited Sheffer Corporation in Cincinnati, Wolf Metals in Columbus, Tremco in Cleveland, and Bruns General Contracting in Tipp City, all of which have announced more investment in plants and equipment, wage increases, bonuses, and/or additional retirement security benefits because of the savings they expect from tax reform.
Photos of today’s visit are below: