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21 December 2017, 01:14 | Melanie Burgess
These Companies Are Promising More Money to Employees After the Passage of the GOP Tax Bill
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.
According to a company statement, the bonuses apply to "more than 200,000 AT&T US employees - all union-represented, non-management and front-line managers".
AT&T chairman and CEO Randall Stephensonsaid Congress and the President "took a monumental step to bring taxes paid by US businesses in line with the rest of the industrialized world". "Unions remain the most effective means for working people to stand together and achieve wage growth and keep good jobs in the U.S".
Aerospace company Boeing Co. also said on Wednesday it would invest $300 million in workforce training and facilities enhancements for employees as its CEO lauded the tax bill.
"Pretty good", Trump said of AT&T's plans, high praise for a company that hasn't been in the Trump administration's good graces in recent weeks.
The telecom giant's plans were announced by Trump during an event at the White House to celebrate the bill this afternoon.
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The bill cuts corporate tax rates to 21% from 35%. This has prompted a few questions about whether the DOJ's actions have anything to do with President Trump's hatred for one of AT&T's biggest assets: CNN.
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To be sure, AT&T isn't the first company to recycle old news to impress Trump.
"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 moves come as AT&T gears up for a fight with the federal government. "Our announcement today is unrelated to our pending acquisition of Time Warner", a AT&T spokesman told Quartz.
AT&T is in the process of acquiring Time Warner Inc. for $85.4 billion, but the U.S. Department of Justice has sued AT&T to block the deal, saying it could raise prices for rivals and hamper development of online video.
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