AT&T will give employees a bonus after Trump signs tax bill

AT&T will give employees a bonus after Trump signs tax bill

The company also announced that it will invest more than $1 billion into the USA economy once the bill, the major first tax reform legislation since the Reagan era, becomes law.

Telecoms giant AT&T has said it will pay a $1,000 (£747) bonus to more than 200,000 workers, as a result of the USA tax reform bill being cleared.

Ohio-based Fifth Third Bancorp said it will pay a $1,000 bonus to more than 13,500 employees, as well as raise the minimum wage for 3,000 of its workers to $15 an hour.

"This tax reform will drive economic growth and create good-paying jobs", Stephenson said.

"In fact, we will increase our United States investment and pay a special bonus to our U.S. employees".

AT&T has said it plans to spend about $22 billion in capital expenditures in 2017, largely on its networks and video services.

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AT&T's announcement appears to be an olive branch to the Trump administration, whose Justice Department recently sued to prevent the company from a massive Time Warner takeover worth $84.5 billion.

The pledge from the telecommunications giant comes after a Wednesday House vote cleared a bill containing a $1.5 trillion tax cut and other sweeping changes to the tax code to Mr. Trump for his signature.

AT&T expects the bonuses will be delivered over the holidays if the law is enacted before Christmas.

No one can seem to agree on who will benefit from the passage of the GOP tax bill, or what actual effects it will have on workers.

AT&T's Wednesday announcement could also be read as an effort to get into Trump's good graces. Well, the corporate tax rate is being cut by 40 percent; that's the centerpiece of the new bill. On Wednesday Boeing said its spending plans would include $100 million for workforce training and $100 million for facilities and infrastructure upgrades. $200 million in bonuses is a big number but Axios puts it in perspective, noting that it's "far less than the $500 million breakup fee the telco would owe Time Warner if regulators block the deal".

"However, a CWA spokesperson noted in an email to ThinkProgress that AT&T executives had agreed to the special bonus only after CWA argued that its employees should be given the "$4,000 wage increase promised by the Republican corporate tax cut". Boeing, a major defense contractor, gets almost one-quarter of its revenue from the federal government.

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