"FedEx believes the Tax Cuts and Jobs Act will likely increase GDP and investment in the United States," FedEx wrote.
FedEx revealed in its statement that it will spend more than $200 million in increased compensation, about two-thirds of which will go to hourly workers, and the remainder will go to increases in performance-related incentive plans for salaried personnel.
FedEx also suggested it will contribute $1.5 billion to the FedEx pension to ensure that it remains "one of the best-funded retirement programs in the country."
The shipping company also wrote in the statement that it will invest "$1.5 billion to significantly expand the FedEx Express Indianapolis hub over the next seven years. The Memphis SuperHub will also be modernized and enlarged in a major program the details of which will be announced later this spring."
The American economy continues to thrive under President Donald Trump. Reports suggested that an excess of one million Americans will receive a bonus of up to $3,000, thanks to the tax cut bill.