Tags: at&t | tax bill | telecom | bonus

AT&T to Pay $1,000 to 200,000 Workers After Tax Bill Signed

AT&T to Pay $1,000 to 200,000 Workers After Tax Bill Signed
(Dreamstime)

Wednesday, 20 December 2017 03:07 PM

AT&T will give more than 200,000 U.S. workers a special $1,000 bonus to celebrate the signing of the tax-cut bill.

The payment will go to union-represented, non-management and front-line management employees, AT&T said in a statement. The Dallas-based telecommunications giant, a vocal supporter of the Republican-backed tax legislation approved in Congress Wednesday, also reiterated its plan to invest an additional $1 billion in the U.S. next year.

Phone carriers are among the companies that are likely to increase their capital spending because of the bill, which allows immediate tax deductions for such investments. AT&T and its rivals are upgrading their networks to provide faster speeds and more ubiquitous coverage as more devices get connected to the internet.

“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,” AT&T Chief Executive Officer Randall Stephenson said in the statement. If President Donald Trump signs the bill before Christmas, employees will get their bonus over the holidays, AT&T said.

Even as Stephenson praised the president, his company remains locked in a legal battle with the administration’s Justice Department. Antitrust officials have sued to block AT&T’s $85.4 billion acquisition of Time Warner Inc., a deal Stephenson has characterized as strategically vital. Trump has said the deal would harm consumers.

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The payment will go to union-represented, non-management and front-line management employees, AT&T said. The telecom giant, a supporter of the Republican-backed tax legislation approved in Congress Wednesday, also reiterated its plan to invest an additional $1 billion in the U.S. next year.
at&t, tax bill, telecom, bonus
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2017-07-20
Wednesday, 20 December 2017 03:07 PM
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