"Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.," Walmart CEO Doug McMillon said Thursday. President Donald Trump cheered the announcement with a tweet, saying, "Great news, as a result of our TAX CUTS & JOBS ACT!" Walmart has invested $2.7 billion in higher wages and training for workers to lower turnover and make the shopping experience more appealing. It has done well and strengthened its hand in online retail as many other retailers have struggled. The company said the wage increase benefits all hourly U.S. workers at its stores, including Sam's Club. Hourly employees at its websites, distribution centers and its Bentonville, Arkansas, headquarters, will benefit from the wage increase. The one-time bonus between $200 and $1,000 will be given to Walmart employees who won't receive a pay raise. The bonus is based on length of service, with workers with at least 20 years qualifying for $1,000.