AT&T Announces Big Bonuses for Employees After GOP Tax Bill Passage

AT&T CEO Randall

AT&T has announced that it will deliver its employees a financial bonus in response to a tax bill that passed in Congress on Wednesday, calling it a "monumental step" in driving economic growth. "That's because of what we did".

AT&T's $1 billion investment will go toward the company's fiber build in homes and businesses.

US President Donald Trump referred to AT&T's move in a speech celebrating the cuts, which were a key priority.

The Justice Department allegedly told AT&T it would have to sell off CNN's parent company as a condition for the merger, which AT&T balked at.

"Congress, working closely with the President, took a monumental step to bring taxes paid by US businesses in line with the rest of the industrialized world", CEO Randall Stephenson said in a statement.

"This is a capital-freeing event", AT&T Chief Executive Officer Randall Stephenson said of the tax bill at an Economic Club of NY luncheon on November 29.


Well, the corporate tax rate is being cut by 40 percent; that's the centerpiece of the new bill. Among the biggest beneficiaries of the legislation, analysts say, will be the telecom industry.

In touting the GOP tax overhaul, Trump has repeatedly emphasized the importance of creating jobs. However, FedEx said it only "may" boost spending if the plan gets enacted.

"By pushing employers for this raise, CWA proves that working people have power when we join together to negotiate for a fair return for the work we do", the union said in a statement.

"$100 million for corporate giving, with funds used to support demand for employee gift-match programs and for investments in Boeing's focus areas for charitable giving: in education, in our communities, and for veterans and military personnel". Fifth Third Bancorp also said it will pay a one-time bonus of $1,000 to more than 13,500 of its 18,000 employees.

An hour later, Fifth Third Bank announced that almost 3,000 workers will see their pay rise to $15 an hour. The decision was surprising because it's very rare for the government to challenge "vertical" mergers like this one, in which no direct competitor is removed from the market.

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