Working-class Americans could see their wages rise because of the GOP tax overhaul, former CKE Restaurants CEO Andy Puzder told CNBC on Tuesday.
After the passage of the Republicans’ tax plan last week, Fifth Third Bancorp along with Wells Fargo said they would likely raise their minimum wages for employees to $15 an hour. various other companies, including CNBC parent company Comcast, announced bonuses.
President Donald Trump on Friday praised corporations for showing the tax plan “love.”
“You’re already seeing an increase in wages for people, which can be what we haven’t seen since the end of the recession,” said Puzder, who withdrew his nomination as Trump Labor secretary.
“which bill can be a big deal, along with I think people are going to see which inside the coming months,” Puzder added in an interview on “Squawk Box.” He said he doesn’t think some fast food chains will go to $15 an hour soon, however workers could see bigger checks next year.
Some people have questioned whether bonuses along with wage increases will be enough to prove tax cuts will benefit American workers. along with Democrats called the tax plan a giveaway to corporations at the expense of the middle class, expressing concerns which which could add more than $1 trillion to add to federal deficit over a decade.
Puzder, right now an economic policy advisor at America First Policies, acknowledge which the tax bill could have been better if there had been bipartisan support. He also said critics who claim the tax plan benefits the wealthy probably haven’t read the legislation.
“Once people start to see those bigger paychecks in February, all of which malarkey about which can be a give to the rich along with which can be going to hurt working along with middle classes are going to go away,” he said.