AT&T To Give US Employees A Bonus Because of the Tax Bill

This Tax Bill Is a Trillion-Dollar Blunder

AT&T chairman and CEO Randall Stephenson announced on Wednesday that his company would be giving out $1,000 bonuses to some 200,000 employees as a result of the recent tax bill passage - but union officials representing those workers say the situation is far more complicated than AT&T is letting on.

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 US companies.

The additional funding is expected to support AT&T's expanding high-speed Internet networks, as well as the next generation of wireless data, known as 5G, the telecom company said.

Fifth Third Bancorp also announced bonuses of $1,000 to more than 13,500 employees and said it would raise its minimum hourly wage to $15.

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. "So that's pretty good", he said.

On Wednesday, he said the bill would "drive economic growth and create good-paying jobs", adding that AT&T would increase its investment in the United States in addition to paying out bonuses.

As soon as the House and Senate had passed the big tax reform bill Wednesday, AT&T made a big announcement.

"We believe tax reform is good for our USA economy and are pleased to take these immediate steps to invest in our team members, communities, small businesses, and homeowners", said President and CEO Tim Sloan in a company release.

The payout is part of an effort by Corporate America to defy criticism that tax cuts for companies will benefit shareholders more than workers.

The $1.5 billion tax bill reduces the corporate tax rate from 35% to 21% and changes the way the US government taxes companies that also operate internationally.

"We believe tax reform is good for our USA economy and are pleased to take these immediate steps to invest in our team members, communities, small businesses, and homeowners", said Wells Fargo President and CEO Tim Sloan. The whole thing has been plagued by regulatory roadblocks thrown up by a government that openly detests regulation but hates Time Warner property CNN with an all-consuming loathing.

Related news:

Hot News

isis-killer-beheading-video-story-top Watchdog: Justin Trudeau Is Under Scrutiny Over Alleged Ethics Violations
Dec 21, 2017 - 00:41
We need to make sure that the office of the prime minister is without reproach'. "The vacations accepted by Mr. The commissioner stated that Trudeau and his family vacationed at the private island twice.

isis-killer-beheading-video-story-top European Union's Michel Barnier to spell out Brexit transition demands
Dec 21, 2017 - 00:38
But Barnier insisted that the negotiations must be concluded months before that, likely in the fall of next year. In a tough speech, Mr Barnier said the transition must be for a "short and specific" period.

isis-killer-beheading-video-story-top Sen. Jack Latvala Announces Resignation Following 'Probable Cause' in Sexual Harassment Probe
Dec 21, 2017 - 00:30
In his letter of resignation, Latvala maintains his innocence saying, "the charges in the original complaint are fabrications". She said Latvala inappropriately touched her in an elevator, at a private club and other occasions.

isis-killer-beheading-video-story-top Parents Upset Over Surprise Ivanka Trump Visit at Conn. High School
Dec 21, 2017 - 00:29
While she enjoyed the visit, in the wake of it, parents are upset they weren't informed of her appearance ahead of time. Ivanka Trump made her way to New England this week, visiting an innovative high school in CT on Tuesday.

isis-killer-beheading-video-story-top Were Analysts Bearish Advanced Micro Devices, Inc
Dec 20, 2017 - 00:39
Aqr Cap Mngmt Ltd stated it has 0.02% of its portfolio in Advanced Micro Devices, Inc . (NASDAQ: AMD ) or 92,400 shares. Hilton Cap Management Llc owns 0.07% invested in Advanced Micro Devices, Inc . (NASDAQ: AMD ) for 6.68 million shares.

isis-killer-beheading-video-story-top Facebook uses AI to tackle catfish and identity thieves
Dec 20, 2017 - 00:38
Facial recognition may make the world safer , or more authoritarian , or just weirder - depending on your perspective. In conjunction with the new facial recognition tools, Facebook put out another post in its " Hard Questions " series.

isis-killer-beheading-video-story-top Senate panel rejects Garrett for EXIM Bank, OKs other nominees
Dec 20, 2017 - 00:37
Tim Scott , R-S.C., is undecided on how he'll vote on Tuesday, but SC is home to a Boeing plant that employs 6,800 people. First, should he be confirmed as chairman, Garrett said his job would be to support the institution, which he would do.

isis-killer-beheading-video-story-top Boy, 5, Calls 911 To Help Police Make Arrest
Dec 20, 2017 - 00:37
Byram's police chief, Luke Thompson, encouraged him to return when he was 21 to apply to become an official part of the force. Tylon Pittman didn't want the Grinch stealing anybody else's Christmas, so he called 911.

isis-killer-beheading-video-story-top 12 dead as fire breaks out in shop in Khairani road
Dec 19, 2017 - 03:44
Nearby residents established that several workers at the shop were sleeping inside when the fire broke out. Senior Police Sub-Inspector A Dharmadhikari said that the situation is now under control.

isis-killer-beheading-video-story-top Who Is Track Palin? Sarah Palin's Son Arrested For Assault, Burglary
Dec 19, 2017 - 03:43
He pleaded guilty to possessing a firearm while intoxicated, and took a plea deal that resulted in other charges being dismissed. Todd told cops that he had armed himself with a pistol and was prepared to "protect his family".

isis-killer-beheading-video-story-top Sony smartphone with Snapdragon 845 SoC, dual-camera leaked
Dec 19, 2017 - 03:43
Reportedly, the device may have a micro USB instead of USB Type-C, however, there is a possibility that the leak isn't accurate. After what's claimed to be a spec sheet leaked on Reddit , it appears that the H8216 will be the company's new flagship.

isis-killer-beheading-video-story-top Real Madrid star Cristiano Ronaldo angry with Perez over 'backhanded' compliments
Dec 19, 2017 - 03:43
The player, himself, tellingly said last night when asked if he'd like to retire with Real: "If possible, yes". Ronaldo , though, confirmed he will be fit for next weekend's Clasico against Barcelona.

isis-killer-beheading-video-story-top Mike Pence delays Israel, Egypt trip as tax vote nears
Dec 19, 2017 - 03:42
From there he was scheduled to visit Israel before traveling to Germany to meet with USA troops stationed there. White House officials said the delay was not related to the reaction in the region to Trump's decision.

isis-killer-beheading-video-story-top Panthers LB Thomas Davis suspended for 2 games for safety rule violation
Dec 19, 2017 - 03:39
For what it's worth, Panthers defensive coordinator Steve Wilks doesn't think the hit on Adams warranted a suspension . As of right now, Davis will miss Week 16 against the Tampa Bay Buccaneers and Week 17 against the Atlanta Falcons.

isis-killer-beheading-video-story-top Prince Harry and Meghan Markle name the date
Dec 18, 2017 - 00:24
That will require passing an eclectic citizenship test on British life and history that is famous for tripping up applicants. The royal family will also pay for the festivities.