In response to Congress' approval of the GOP tax bill, AT&T said Wednesday it plans to pay more than 200,000 union-represented, non-management and front-line managers $1,000 bonuses once the reform is officially signed into law.
The new tax law proposes a reduced corporate tax rate, down 14 percent to 21 percent, and includes other provisions Republicans claim will influence businesses to invest on American soil, according to CNBC.
"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," Randall Stephenson, AT&T chairman and CEO, said in a press release. "This tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees."
The telecommunications giant is also committing an additional $1 billion investment in the U.S. in 2018 if the bill is passed, which research shows could create 7,000 jobs for American workers.
That same day, Comcast released plans to give special $1,000 bonuses to more than 100,000 non-executive employees "[b]ased on the passage of tax reform and the [Federal Communication Commission's] action on broadband," CNBC reports.
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