South Dakota's two Republican U.S. senators are still touting last month's major achievement.

And in the wake of South Dakota-based Great Western Bank's decision to raise its minimum wage to $15 per hour and provide other benefits for workers, U.S. Sen. Mike Rounds expects to see similar business efforts in the future.

"We really expect more businesses, in order to compete, are going have to be looking at doing the same thing where they share some of the benefits with their workforce," Rounds said in a call with reporters on Thursday.

The reform package approved in December provides tax cuts across income brackets while offering a massive tax cut for corporations.

U.S. Sen. John Thune spent an appearance on Fox Business Thursday celebrating Great Western's investment in its workers.

"These businesses realize that this is a great opportunity for them to grow and expand their operations, and in doing that, that benefits their employees and their workers," Thune said in an appearance on Varney & Co.

Walmart also announced a plan to reinvest in its workers, confirming it would spend more than $300 million in the 2018 fiscal year to raise starting hourly wages to $11. Also on Thursday, however, Walmart announced it would close 63 of its Sam's Club locations.