New York – AT&T Inc said on Wednesday it will pay $1,000 bonuses to more than 200,000 employees and invest an additional $1 billion in the United States in 2018 once a tax reform bill approved by Congress is signed into law.
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The Republican-controlled U.S. House of Representatives gave final approval to the biggest overhaul of the U.S. tax code in 30 years on Wednesday, sending the sweeping bill to U.S. President Donald Trump for his signature.
Employees of the No. 2 U.S. wireless carrier who will receive the bonus are all “union-represented, non-management and front-line managers,” AT&T said in a statement. The company has more than 250,000 employees in all. A person briefed on the matter said the bonuses will cost the company about $230 million.
Aerospace company Boeing Co
The two announcements gave at least some support to claims by Trump and fellow Republicans that their tax bill, which cuts the corporate tax rate to 21 percent from 35 percent, would lead to more investment by U.S. companies.
Republican senators and Trump praised the announcements.
“Within hours of passing #taxreform, we’re already seeing announcements that companies plan to give back to their employees and invest more at home,” said Senator Shelley Moore Capito of West Virginia on Twitter. “Good news for workers and the economy!”
Earlier on Wednesday, Democratic Senator Charles Schumer of New York criticized AT&T on the Senate floor.
“AT&T – big American company, fine American company – their tax rate over the last 10 years was a mere 8 percent, and they cut 80,000 jobs,” he said. “That one statistic belies all this trickle-down bunk that our Republican colleagues still cling to even though it’s outdated and disproven.”
AT&T is in the process of acquiring Time Warner Inc
What will the libs say now? Guess they don’t like tax cuts.
Are the libs still calling this a tax scam?
Yes, in January they pay bonuses.
Some AT&T technicians are just incompetent; I have AT&T U-verse in the Midwest, and I can’t even tell everyone the tsouris which AT&T put me through, in getting that service to work, and sending a technician to my home, who knew what he was doing. I can’t believe that those same incompetents are now going to receive $1,000!
The libs are lying all Kirby the fake news media, screaming about his everyone’s taxes are going UP! Libs are the most dishonest hypocrites in the world!
Our US DOJ is suing AT&T right now.
This media-moment to butter the narcissist -in- chief should be apparent to all.
Let’s see if this quid-pro-quo works.
Let’s see.
American workers need material wage increases if there’s going to be economic growth, not one-time bonuses.