GOP tax bill: AT&T, Boeing among corporations rewarding employees

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AT&T has been in the political news quite a bit recently, due to the intrigue surrounding the Justice Department's decision to block their merger with Time Warner.

CEO Randall Stephenson has sent out a press release, stating that 200,000 members of their nationwide staff will receive a $1,000 bonus after the new bill becomes law. "That's because of what we did".

The company has said it also plans to invest an additional $1 billion in the United States in 2018, following through on previous comments officials made in November.

President Trump is expected to sign the bill in the coming days.

AT&T's latest announcement comes on the heels of a December 14 agreement struck between the company and the Communications Workers of America.

"CEOs aren't waiting on a tax cut to jump-start the economy, a favorite phrase of politicians who have never run a company", former New York City mayor and Democratic mega donor Michael Bloomberg wrote in an editorial.

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"This is a capital-freeing event", AT&T Chief Executive Officer Randall Stephenson said of the tax bill at an Economic Club of NY luncheon on November 29. Among the biggest beneficiaries of the legislation, analysts say, will be the telecom industry.

Boeing has also said it will invest an additional $300m. The aerospace giant announced $300 million in spending, to be split equally between worker training, upgrading workforce facilities and a program that matches employees' charitable contributions.

But with both parties set to sue the DoJ for blocking the merger because The Donald has a twitter beef with Don Lemon, AT&T has shifted gears and chose to just play along with the emotional needs of a government run by a egomaniacal adolescent.

Fifth Third Bancorp said it would raise its minimum hourly wage for all employees to $15, with 3,000 hourly employees benefiting from the hike. Time Warner was up about 0.5%. "This tax reform will drive economic growth and create good-paying jobs".

AT&T says it will pay a $1,000 bonus to more than 200,000 USA employees after the GOP tax bill is enacted - an announcement sure to please Republican lawmakers who have been pitching corporate tax cuts as a boost for American workers. The decision was surprising because it's very rare for the government to challenge "vertical" mergers like this one, in which no direct competitor is removed from the market. If the companies don't extend the deadline, AT&T must pay Time Warner a $500 million breakup fee.