Republican Tax Plan Hasn't Led To A Raise Or Bonus For Almost Anyone: Poll

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Just 2 percent of U.S. adults say they've received a pay raise, bonus or other work benefits from the Republican tax plan, according to a new poll. REUTERS/Aaron P. Bernstein

Just two percent of U.S. adults say they have received a pay raise, bonus or other financial benefits due to the new tax law signed by President Donald Trump, according to a new poll.

Republicans hailed the bill as a tax cut for the middle class, but most adults appear to side with Democratic critics who called it a gift to the wealthy and large corporations, according to a Reuters/Ipsos poll published Monday. Fifty-eight percent of respondents said the controversial law mostly benefited large U.S. corporations or the wealthy, the survey found. Only 13 percent of respondents said the middle class was the biggest beneficiary.

Twenty-seven percent said they expected to pay more because of the law while 24 percent said they stood to pay less. Twenty-three percent said they didn't expect any change.

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Just 2 percent of U.S. adults say they've received a pay raise, bonus or other work benefits from the Republican tax plan, according to a new poll. REUTERS/Aaron P. Bernstein

The tax overhaul sparked fiery rhetoric among lawmakers. Democrats labeled it the "GOP Tax Scam," sparking a hashtag under that phrase and criticizing it as a cut that disproportionately benefited the wealthy. Republicans pushed the bill through Congress without a single Democratic vote and Trump signed it into law just before last Christmas.

The legislation reduces tax rates for all filers in 2019, but those cuts phase out over the next decade. Families earning $75,000 will see a tax hike by 2027, according to the Joint Committee on Taxation, a nonpartisan group of Congressional analysts.

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The bill also slashed corporate tax rates from 35 percent to 21 percent—but unlike individual filers, those cuts are permanent. In the weeks since the bill became law, several corporations have made headlines for offering bonuses to some of its employees.

AT&T was the first company to announce bonuses, saying it would use its savings from the tax bill to pay a $1,000 bonus to 200,000 non-management workers and invest $1 billion in the U.S. in 2018. Wal-Mart, the world's largest employer, announced earlier this month that it would increase its starting hourly wage to $11 for about one million employees—though the retail chain has been increasing wages since 2015 after years of protests and criticism for paying the vast majority of its workforce the $7.25 federal minimum wage. FedEx, Apple, JPMorgan Chase & Co, and others all pledged to offer new benefits under the new law.

Republicans and Democrats are expected to focus on the law as they campaign for the 2018 midterm elections. A third of the survey's respondents, and 62 percent of Democrats, said the bill made them more likely to support another Democrat for office versus just 9 percent of Republicans and 19 percent of independents who said the same. One in four respondents, including more than half of Republicans, said the tax legislation made them more interested in voting for a Republican. Just 8 percent of Democrats and 16 percent of independents said the same.

The poll was conducted from January 12-23, involved 5,254 adults and had margin for error of 2 percentage points.