RARITAN TWP, NJ – Steve Kalafer is awarding each of his full-time employees a $500 bonus because of the recently passed Federal tax reform and corporate tax reduction.
That's pretty big news from Kalafer, who owns Flemington Car & Truck Country here and the Somerset Patriots, too.
“It’s simple Economics 101,” Kalafer said. “We believe this is the right thing to do. Reinvesting tax savings in our employees and our businesses will make our communities and America stronger,” he added.
The bottom line is that instead of his businesses sending their money to Washington, "they are able to reinvest in their most important assets – employees, customers and products. There only so much money out there - Washington doesn’t get it, your community gets it,” Kalafer said.
“The tax cuts were meant to reduce corporate tax burdens so that proper, equitable shares would go to employees and investment,” he explained. “You will have grateful employees, greater profits and the community will benefit.
“Our associates are our most important asset as they serve our fans and sponsors every day to the highest level of customer satisfaction,” Kalafer added. “Their commitment is extraordinary.”
Kalafer purchased the Patriots more than 20 years ago. The Atlantic League franchise, which plays its home games at TD Bank Ballpark, has since grown to be the most successful franchise in the eight-team league in terms of championships and attendance.
Kalafer founded Flemington Car and Truck Country in 1976, just a few years after graduating what was then Rider College (now university). The original dealership, Ditschman Ford, has since grown into an expansive cluster of 17 American and foreign auto/truck dealerships at eight locations along Routes 202-31 here.
Kalafer has hundreds of employees. He is active in the community, serves on corporate boards and is a longtime philanthropist. He also has extensive real estate investments throughout New Jersey and a private equity business.
“We call on all of the auto manufacturers we work with to help drive economic growth by giving back to the communities where they employ and invest with appropriate employee bonuses and by creating new jobs with their new capacity for additional capital expenditures,” Kalafer said.
Flemington Car and Truck Country will also be announcing a series of facility upgrades enabled by the new tax law passed by Congress and signed into law by President Trump last month, according to Kalafer.
“My employees are my most valuable assets,” Kalafer said. “Should they not be rewarded when your expenses are reduced?”