Unions are pressing companies they bargain with to disclose details of what they’re doing with savings from the Trump tax cuts. When I first heard about this, I thought there is no way unions are entitled to this information. And I remain firm on my belief.
Four separate unions recently filed formal information requests with several companies requesting disclosure of the companies’ plans for the extra cash freed up by the tax cuts. These requests seek disclosure of what each company’s estimated gains from the tax revamp will be, how much they will spend on stock buybacks, how much capital investment they intend to make in the U.S. and abroad, and how many U.S. jobs they plan to create or bring back from other countries. The unions then threatened to file unfair labor practice charges with the National Labor Relations Board if the companies do not give the union the information they seek.
According to one union, “Working people deserve to know how their employers plan to spend their tax savings so they can bargain for a fair share of the windfall and ensure that corporations do more to bring jobs home and improve pay and benefits.”
Matt Austin owns Austin Legal, LLC, a boutique law firm based in Ohio that limits its representation to employers throughout the U.S.A. dealing with labor, employment, and OSHA matters. You can reach Matt at (614) 843-3041 or emailing him at Matt@MattAustinLaborLaw.com.