The Young Turks: Warren Blasts FedEx and UPS as Evidence GOP Tax Bill Won’t Create Jobs
Several congressional Democrats, including Sen. Elizabeth Warren (D-Mass.), are pointing to findings by TYT in a series of reports on the employment policies of FedEx and UPS as evidence that the Republican tax bill will not create jobs.
TYT reported that the two companies-among America's largest employers-already have billions of dollars in cash on hand and are investing hundreds of millions in initiatives that stand to reduce their employment levels. TYT discovered patent applications, for instance, for package-handling automation, delivery drones, and driverless-trucking systems. The two companies are also investing in measures that would transform full-time driving jobs into Uber-style delivery work.
Both FedEx and UPS already receive millions in local tax subsidies in states including Illinois, Indiana, and Tennessee. But the track record of job growth resulting from those tax benefits has been mixed, as previously reported by TYT.
"Giant corporations like UPS and FedEx have billions of dollars in cash on hand that they could already be using to increase wages or hire more workers," Warren said in a statement to TYT. "If they aren't using this money to improve the lives of Americans now, there is no reason to believe they'll do otherwise with the windfall they'll get if Republicans pass this reckless tax bill."
Read more on The Young Turks' website here.
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