U.S. Senator Ben Sasse issued the following statement after Hormel Foods, which operates a processing plant in Fremont, Nebraska, announced it would raise wages and give employees stock shares as a result of the Tax Cuts and Jobs Act passed last December. 

“Lower taxes and bigger paychecks are big wins for Nebraska. The tax cuts we passed last year are helping Nebraska families and businesses. Washington still has a lot of work to do, but this is good news for our whole community and especially the moms and dads working at Hormel.”   

Background: 

In an announcement earlier today, Hormel President and CEO Jim Snee said: “Tax reform will have a clear benefit to all Hormel Foods stakeholders – our shareholders, our employees, and the communities in which we operate. The ongoing cash tax benefit will provide additional funds, allowing us to accelerate the growth of our business.… In addition to awarding our over 20,000 employees stock options, we will raise our starting wage for all employees to $13 per hour by the end of fiscal 2018 and to $14 per hour by the end of fiscal 2020.”