Treasury Secretary Steve Mnuchin made a stop in the borough to learn first hand what the country's 6th largest airline is doing with the tax cut it received as a result of the Trump administration's corporate tax overhaul.
Mnuchin visited Jet Blue's Long Island City Support Center, where the airline is also headquartered - and met with airline officials and employees. The airline announced in January it was handing out $21 million dollars in bonuses to employees as a result of the Tax Cuts and Jobs Act. Mnuchin says he's glad to see the money being disbursed - adding it's helping employees pay bills and benefit from enhanced training programs.
Airline executives say the change in the law has been instrumental. Jet Blue CEO Robin Hayes adds "I know the $1000 bonuses were appreciated by everybody, Mr. Secretary, and to a company like Jet Blue it has been important to us to remain competitive."
All 21,000 of the airline's employees were set to receive $1,000 dollar bonuses, except for the CEO and executive vice presidents. Other airlines including American and Southwest are also offering employees bonuses as a result of the new tax law.