Portman Tours Zanesville Business Reinstating Health Care Benefits As a Result of Tax Reform Law
ZANESVILLE, OH – As part of his Results for the Middle Class Tax Reform Tour, U.S. Senator Rob Portman (R-OH) today visited GKM Auto Parts, which is reinstating health care benefits to its employees using savings from the new tax reform law. Under the Affordable Care Act, the company saw its health care costs rise double digits year after year. Facing an additional 22 percent increase in 2016, the company decided to drop coverage for its employees. As a result of the passage of the Tax Cuts & Jobs Act, GKM Auto Parts decided to use their tax reform savings to reinstate healthcare coverage for their employees.
“The fact that GKM Auto Parts is reinstating health care benefits for its workers is great news, and I’m excited that we continue to see real, tangible benefits from tax reform,” 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 plants and equipment, pay increases, bonuses, additional retirement help or new benefits—specifically because of this tax bill. Workers around the country are seeing these benefits in addition to more money in their paychecks, and I expect it to continue.”
“Under the Affordable Care Act, our company has faced double digit increases in health care costs year after year, causing us to drop coverage in 2016,” said Kelly Moore, owner of GKM Auto Parts. “Because of the cost savings from tax reform, we are reinstating this important benefit for our employees and we want to thank Senator Portman for his work to help make this possible. We take great pride in our employees and we are excited about how this will help them and how tax reform will help our company and our community.”
NOTE: Thus far on his tour, Portman 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. These are four of many Ohio companies that are increasing investments and strengthening worker benefits following passage of the historic Tax Cuts & Jobs Act.