Arizona billionaire issues $1.3 million in bonuses to celebrate new tax plan
PHOENIX – In celebration of the passing of the new GOP tax plan, Arizona billionaire Bob Parsons announced Friday he was issuing $1.3 million in bonuses.
According to a release, those who have worked for Parson’s YAM Worldwide company for more than six months received $2,000, while those who haven’t quite been there as long received $1,000. The bonuses were issued on Friday, just before the Christmas holiday.
Parson’s generosity to his staff comes on the heels of the new GOP tax plan that was passed by the Senate and House on Wednesday. The new plan cut the corporate tax rates from 35% to 21%, which many have claimed has been more helpful to those that are wealthy.
“The passage of the tax credit is a catalyst for explosive economic growth. On a massive scale, the lowered federal tax burden on businesses will increase investment, entrepreneurship and corporate philanthropy,” Parsons said in the release. “I’ve always believed in sharing good news and have decided to celebrate the tax plan by giving back to my staff.”
Parsons’ wealth comes from his creation of GoDaddy, based locally in Tempe. In 2011, Parsons sold a majority stake of GoDaddy and stepped down as executive chairman in 2014.
Since, Parsons has focused on other businesses in Arizona. He currently owns shopping malls, motorcycle dealerships, a golf club and an advertising agency.
Along with Parsons, multiple companies have expressed support for the new GOP tax plan including AT&T and Comcast, who also both announced bonuses for its employees.
AT&T announced they would issue $1,000 in bonuses for its 200,000 employees while Comcast announced the same amount for its 100,000 employees.
Arizona open and hiring: If you’re looking for job openings, visit ktar.com/arizonahiring.
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