AT&T Plans $1000 Bonus to Workers if Trump Signs Tax Bill

And AT&T, which is attempting to buy Time Warner for $85.4 billion, was so giddy about the plan that it said it will celebrate by giving each of its 200,0000 union, non-management employees in the USA a $1,000 bonus, and it also pledged to spend an additional $1 billion domestically next year.

AT&T said Wednesday it will give 200,000 of its US employees a $1,000 bonus once the Tax Cuts and Jobs Act is signed into law - a move President Trump touted in a speech after Congress passed the massive tax cut bill.

"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", said AT&T CEO Randall Stephenson.

Dallas-based AT&T announced today that thanks to the passage of the GOP tax plan, it is giving all of its employees in the United States a $1,000 bonus. President Trump read the announcement at a ceremony at the White House celebrating the tax bill on Wednesday afternoon.

"Newly passed tax legislation includes a reduction in corporate tax rates created to spur economic growth".

"That's because of what we did", Trump said of AT&T.

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At least four major companies are building goodwill in the wake of President Donald Trump's tax cuts by finding ways to pass along some of their likely savings to employees. The decision came after the Justice Department reportedly tried to force Time Warner to sell CNN in order to allow the merger, which Trump has labeled as "fake news".

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.

The bonus award is expected to cost the firm about $230m and go to non-manager, unionised employees.

"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".

The president suggested other companies would be making similar announcements, saying "We're going to see something that's very special".

AT&T's general counsel fired back, stating, "Vertical mergers like this one are routinely approved because they benefit consumers without removing any competitor from the market". Time Warner was up about 0.5%.

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