The GOP tax plan just passed and Americans are already feeling the positive effects!
Liberals have argued that lowering the corporate tax would only be felt in shareholder’s pockets, but that couldn’t be further from the truth.
Case in point: AT&T just announced that they will be giving out $1,000 bonuses to 200,000 of their U.S. employees all thanks to Trump’s tax plan.
AT&T is handing out $1,000 bonuses to 200,000 of its U.S. employees after lawmakers successfully passed tax reform on Wednesday.
The Dallas-based telecom company also reiterated its promise to invest $1 billion in the country in 2018 if the bill is signed into law. The sweeping tax reform was approved by Congress this afternoon and will now go to President Donald Trump for his signature.
“Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,” said AT&T CEO Randall Stephenson in a statement. “This tax reform will drive economic growth and create good-paying jobs.”
The special bonus will go to union-represented, non-management and front-line management employees, the company said. If the bill is signed before Christmas, it said it will hand out the bonus over the holidays.
AT&T has been a vocal proponent of tax reform, which will lower the corporate tax rate from 35% to 21%. It has said a lower tax rate will help U.S. companies to better compete globally and will drive investment, economic growth and hiring back home.
Meanwhile, AT&T is squaring off with the Justice Department over its $85.4 billion acquisition of Time Warner. The department has filed a lawsuit to block the tie-up, saying it would be bad for consumers and result in higher cable bills. Trump has also called the deal “not good for the country.”
Shares of AT&T ticked up 1% in afternoon trading.