The bank also announced that it will give $1,000 bonuses to nearly sixty thousand employees, raise the minimum wage for all hourly employees to $15, enhance employees' healthcare benefits starting in 2019, and make additional investments in projects designed to improve the customer experience, with a focus on digital and mobile capabilities.
U.S. Bancorp is among a number of corporations that have announced charitable contributions and employee bonuses following passage of the bill.
"Our one-time $150 million contribution to the U.S. Bank Foundation reflects a long-term expansion in our ability to invest in and revitalize our communities for years to come," said U.S. Bancorp president and CEO Andy Cecere. "We know how important it is to everyone at U.S. Bank that we strengthen our neighborhoods and communities with our time and financial resources. It is a privilege to make this decision to benefit our communities."