So where has the money gone? Many companies won’t say or are scant on specifics. Several publicly traded companies in Tennessee have issued press releases announcing bonuses or minimum wage increases, but few have offered details on the size and scope of those raises. Meanwhile, privately held companies in Tennessee have been reticent to share any of their spending strategies.
“We know what particular companies want us to know about their economic behavior,” said Matt Gardner, a senior fellow at the non-partisan Institute on Taxation and Economic Policy. “Once you get beyond the press releases, the jury is still out. It is going to take a while before we see the real effects of the tax cuts.” Read more