How Trump's tax cuts affect SWLA
(KPLC) - Businesses across the country are starting to see the effects of President Trump's Tax Cuts and Jobs Act. In the fiscal 2018 year, taxes will be cut by around $135 billion. But how will that affect Southwest Louisiana?
Stine Home & Yard CEO Dennis Stine says that with the tax cuts, they will be watching over the next few months to see how the company will be affected.
"We do believe it will be good for our organization," says Stine.
Stine Home & Yard has increased the starting salary for employees and is going to increase 401k matching over the course of the next year.
"And then beyond that, we are investing back into our company," Stine says. "We have spent a lot of money on technology and we will continue to do so."
Stine says they plan on changing their legacy stores, investing not only in the company but in the community as well.
Entergy Louisiana customers can also expect rate reductions for the remainder of 2018. Around $105 million will be returned to customers over the course of the next 8 months. Customers can expect their bill to be $4.20 less per month starting in May and continuing to December.
A taxpayer advocacy group, American for Tax Reform, has compiled a list of some of the Louisiana companies affected by the Tax Cuts and Jobs Act:
- Entergy Louisiana, LLC (New Orleans)
- LHC Group (Lafayette)
- Continental Rail (Tallulah)
- Gulf Coast Bank & Trust Company (New Orleans)
- Lowe's (4,000 employees at 31 stores in Louisiana)
- Cleco Corporation. (Pineville)
- Metairie Bank and Trust (Metairie)
- T.J. Maxx (14 stores in Louisiana)
- Walmart (124 locations in Louisiana)
- Iberia Bank (Lafayette)
- Apple (Apple store locations in Baton Rouge and Metairie)
- BancorpSouth Bank (multiple locations in Louisiana)
- Home Depot (28 locations in Louisiana)
- Cintas Corporation (Multiple locations in Louisiana)
- Comcast (Multiple locations in Louisiana)
- Chipotle Mexican Grill (Multiple locations in Louisiana)
- Ryder (11 locations in Louisiana)
- Starbucks Coffee Company (Multiple locations in Louisiana)
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