AT&T promises $1000 bonus to workers after tax overhaul

This Tax Bill Is a Trillion-Dollar Blunder

"AT&T plans to increase USA capital spending $1 billion and provide $1,000 special bonus to more than 200,000 USA employees", he added, "and that's because of what we did".

AT&T Inc. said it would make a one-time $1,000 payment to more than 200,000 workers if President Donald Trump signs the tax-code overhaul bill that Congress has approved.

"All union-represented, non-management and front-line managers" are eligible for the bonus.

"Congress, working closely with the President, took a monumental step to bring taxes paid by USA businesses in line with the rest of the industrialized world", said AT&T chief Randall Stephenson.

Some, like former New York City Mayor Michael Bloomberg, have said that it is "pure fantasy to think that the tax bill will lead to significantly higher wages and growth".

While the bonus announcement was new, the planned additional investment wasn't -AT&T announced on November 8 that it would step up USA investment by $1 billion if a tax bill passed.

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Trump took credit for AT&T's move Wednesday.

Congress passed the final version of the tax bill on Wednesday afternoon, and it awaits President Trump's signature. The $1.5 trillion tax cut permanently reduces the corporate tax rate to 21 percent from 35 percent. Some critics, though, have been quick to suggest that the company's vociferous support of the bill is primarily an effort to curry favor with the Trump administration and complete a merge with Time Warner that was blocked last month.

AT&T expects the bonuses will be delivered over the holidays if the law is enacted before Christmas. House Speaker Paul Ryan's press office posted the announcement on his website at the time, touting it as "yet another example of why we need to get tax reform done" this year.

"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". "Our announcement today is unrelated to our pending acquisition of Time Warner", a AT&T spokesman told Quartz.

AT&T had previously said that it would invest $1 billion in the US if "competitive" tax reform legislation was passed, and has said that the tax reform framework could increase demand for AT&T's services.

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