Tags: Paul Ryan | Trump Administration | Trump Tax Reform | paul ryan | congress | tax reform pro-growth | gop

Paul Ryan: AT&T Investment Pledge Is Reason to Get Tax Bill Done Now

Image: Paul Ryan: AT&T Investment Pledge Is Reason to Get Tax Bill Done Now
(AP)

By    |   Wednesday, 08 Nov 2017 02:38 PM

House Speaker Paul Ryan revealed Wednesday that telecommunications giant AT&T will invest $1 billion more in the United States if Congress enacts "pro-growth tax reform."

"By immediately lowering the corporate tax rate to 20 percent, this bill will stimulate investment, job creation and economic growth in the United States," the company said in a statement to the speaker's press office.

"With a rate of 20 percent combined with provisions for full expensing of capital expenditures for the next five years, we're prepared to increase our investment in the United States.

"If the House bill is signed into law, we'd commit to increase our domestic investment by $1 billion in the first year in which the new rates are in place. And research tells us that every $1 billion in capital invested in telecom creates about 7,000 good jobs for the middle class."

Ryan's press office adds in the release that "the Tax Cuts and Jobs Act will slash the corporate tax rate down from 35 percent — the highest in the industrialized world — down to just 20 percent." Citing "countless studies," Ryan's office claim the bill "alone will directly lead to upwards of a $4,000 pay raise for the middle class, and… will create at least 587,000 full-time jobs."

AT&T is currently in a conflict with the Justice Department, which is urging the company to sell CNN to appease the U.S. antitrust authority over its purchase of Time Warner Inc., Financial Times reported.

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House Speaker Paul Ryan revealed Wednesday that telecommunications giant AT&T will invest $1 billion more in the United States if Congress enacts "pro-growth tax reform."
paul ryan, congress, tax reform pro-growth, gop
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2017-38-08
Wednesday, 08 Nov 2017 02:38 PM
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