Democratic members of Congress want Walmart CEO Doug McMillon to explain how the Tax Cuts and Jobs Act impacted Walmart employees.
The group Making Change at Walmart has provided lawmakers with hundreds of testimonies from Walmart workers whose wages fall far below the company’s average claim of $13.75 an hour.
“Almost immediately after the Trump tax cuts were approved, Walmart's board sought to stuff the pockets of its shareholders by authorizing up to $20 billion in stock buybacks,” says MCAW communications director Amy Ritter. “Meanwhile, the company still has no long-term solutions to address the fact that many of their employees are struggling in poverty.”
Ritter added: “Walmart continues to prove it is an irresponsible corporation that will, given the opportunity, choose rewarding executives and shareholders over the welfare of the hard-working men and women who make its stores successful.”
MCAW also provided testimony on wage stagnation at Walmart, as well as the negative impacts of Walmart’s inadequate benefits, irregular scheduling, and elimination of holiday pay.
The letter to Walmart was signed by U.S. Reps. Mark Pocan, D-Wis., Jan Shakowsky, D-Ill., Raúl Grijalva, D-Ariz., Rosa L. DeLauro, D-Conn., Gene Green, D-Texas, Brian Higgins, D-N.Y., Pramila Jayapal, D-Wash., Marcy Kaptur, D-Ohio, Barbara Lee, D-Calif., Eleanor Holmes Norton, D-D.C., Bobby L. Rush, D-Ill., Tim Ryan, D-Ohio, and Mark Takano, D-Calif.,
The letter details how Walmart approved a $20 billion stock buyback plan while doing comparatively very little for their workforce.
The letter, mailed to McMillon Sept. 13, with a response requested by Sept. 28.