Sand Springs Firm Hands Out 'Tax Cut' Bonuses
SAND SPRINGS, Oklahoma - Webco Industries based in Sand Springs is the latest employer to give workers a bonus following the passage last year of the Trump Administration's tax plan.
Webco says each employee was given $1,000 if they've been there for a year or more. Employees who have been there for a significant amount of time, were given $2,000.
Webco says they had more than a million dollars total to distribute to their employees, many of whom are in Sand Springs.
"The tax cuts and jobs act reduced corp tax rates, so that produced a significant amount of savings this year for Webco as our corporate tax bill was reduced," said Mike Howard with Webco Industries.
These were one-time bonuses and impacted employees in Oklahoma, Pennsylvania, Texas, Illinois and Michigan.