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

This Tax Bill Is a Trillion-Dollar Blunder

AT&T said Wednesday it will pay a $1,000 bonus to more than 200,000 United States employees after the GOP tax bill is enacted.

AT&T promised Wednesday to give more than 200,000 US workers a $1,000 bonus once President Trump enacts the tax overhaul that Congress just passed. For union-represented, non-management employees at AT&T, the bonus is another temporary boost that ultimately fits into the small fraction of the total tax benefits that the bill will bring.

President Trump praised AT&T's bonus plans during a Rose Garden event celebrating Congress' passage of the tax plan.

In his statement announcing the bonuses and the additional investment, AT&T Chairman and CEO Randall Stephenson said, "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".

The telecom giant heralded the GOP's tax bill, which both the Senate and House passed this week, as a measure that will "spur much-needed investment and economic growth" in a statement from CEO Randall Stephenson released on Wednesday.

In the 2016 US elections, Republican candidates got 62 percent of $2.7 million in donations to federal candidates from AT&T's political action committee that pools contributions from employees, according to the Center for Responsive Politics.

AT&T spent about $23 billion building out its infrastructure in 2016, and estimates earlier this summer suggested the company was on track to spend $22 billion in 2017.

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After the tax bill passed Wednesday, Trump heralded AT&T's announcement during a celebration with Congressional Republicans at the White House.

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

AT&T will provide over 200,000 of its workers with a $1,000 bonus and will make a $1 billion increase to is capital expenditures budget.

"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". Time Warner was up about 0.5%.

Last month, Stephenson blasted the Department of Justice over its plans to sue to block his company's $84.5 billion takeover of Time Warner.

On the other hand, AT&T stands to be a potential beneficiary of another recent move by the Trump administration: the repeal of net neutrality regulation.

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