AT&T promises $1000 bonus for employees after Pres. Trump signs tax bill

AT&T promises $1000 bonus for employees after Pres. Trump signs tax bill

Employees of the No. 2 US wireless carrier who will receive the bonus are all "union-represented, non-management and front-line managers", AT&T said in a statement.

AT&T Inc., the phone carrier locked in a battle with the US government over its Time Warner Inc. acquisition, lauded President Donald Trump and Congress for their tax-cut bill and said 200,000 USA workers will get a special $1,000 bonus to celebrate.

The company said the bonus payments will go to union-represented, non-management, and front-line managers.

The company said in a news release that they expect to give the bonuses before Christmas, as long as President Trump passes the bill before then.

In his statement, AT&T chief executive Randall Stephenson called the new tax plan a "monumental step".

"This tax reform will drive economic growth and create good-paying jobs", Stephenson said.

In the 2016 USA elections, Republican candidates got 62 percent of $2.7 million in donations to federal candidates from AT&T's political action committee that pools contributions from employees, according to the Center for Responsive Politics.

Shares of AT&T were up 1.16% on Wednesday, to $38.49.

President Trump celebrated the passage of the bill overhauling the tax code at a press conference on Wednesday.

Jayda Fransen: Twitter suspends Britain First leader retweeted by Donald Trump
The new rules were a response to years of outrage over Twitter allowing hate to flourish on its site. The suspensions are part of Twitter attempt to better combat hate-speech and abuse on its platform.

The pledge for $200 million in bonuses shows shows the extent of AT&T's support for the Republican tax plan, which will slash the tax rate on corporations.

"Yes it is commendable that AT&T is giving its employees a $1,000 bonus".

While celebrating the tax cuts outside the White House, Trump highlighted the AT&T announcement as the Republican lawmakers gathered behind him clapped and cheered.

"It's good for our communities, employees and Fifth Third Bank", CEO Greg Carmichael said in a statement.

The moves come as AT&T gears up for a fight with the federal government.

The Department of Justice is suing to block the company's $108-billion merger with Time Warner, citing anti-trust concerns.

The firm, which still needs government approval to allow it to take over Time-Warner, also said it would invest an additional $1bn in the U.S. in 2018.

AT&T had previously said that it would invest $1 billion in the USA if "competitive" tax reform legislation was passed, and has said that the tax reform framework could increase demand for AT&T's services.

Related Articles

  • New Glass-Like Polymer with Selfie Healing Prowess Discovered

    New Glass-Like Polymer with Selfie Healing Prowess Discovered

    Recently, scientists from the University of Tokyo has published a study on a new polymer for self-repairing smartphone screens. What is better still is that the sheets would regain their strength after just a couple of hours.
    NYCFC Lose Out On Belmont Stadium Bid

    NYCFC Lose Out On Belmont Stadium Bid

    The bidding process was run through Cuomo's Empire State Development agency, which oversees economic development programs in NY . It is just the first step for the Islanders, who still need to get out of their current 25-year lease with the Barclays Center.
    Weinstein made me blacklist Judd, Sorvino, says Peter Jackson

    Weinstein made me blacklist Judd, Sorvino, says Peter Jackson

    Angelina Jolie , Rose McGowan and Gwyneth Paltrow are among the women who have accused Weinstein of sexual assault or harassment, many of which Weinstein has denied.
  • Athletes join Diddy's proposal to buy the Carolina Panthers

    Athletes join Diddy's proposal to buy the Carolina Panthers

    He has owned the Panthers since their inception and is the only current NFL owner to have played in the league. But in 2016, the outlet estimated the value of the Carolina Panthers at $2.3 billion.
    5-Year-Old Calls Police to Report the Grinch

    5-Year-Old Calls Police to Report the Grinch

    He arrived at the station, greeted by Develle and Byram Police Chief Luke Thompson, who led him to a holding cell in the back. The police assured the young MS boy that Christmas would be okay.
    Samsung Galaxy Note 8 price slashed, now available at Rs 64900

    Samsung Galaxy Note 8 price slashed, now available at Rs 64900

    If you expected good 12MP cameras with large 1.4micron pixels like on the flagship line, you are in for a disappointment. Samsung on Tuesday announced the Galaxy A8 and A8 Plus , two phones in its midrange A range.
  • Bitcoin futures begin trading on world's biggest exchange

    Bitcoin futures begin trading on world's biggest exchange

    If the move passes, the futures contracts would be traded on Europe's largest derivatives exchanges, the Eurex Exchange. The margin requirement at CME is 35 per cent, while at Cboe, it is 40 per cent, reflecting bitcoin's volatility .
    Cyril Ramaphosa Elected ANC President

    Cyril Ramaphosa Elected ANC President

    Government bonds also closed firmer before announcement that Ramaphosa had won the race. Mr Ramaphosa is in a strong position to become president in 2019 polls.
    Pop Star Jonghyun Of SHINee Dies At 27

    Pop Star Jonghyun Of SHINee Dies At 27

    They released six chart-topping albums in Korea and five in Japan, in addition to embarking on numerous world tours. Korean pop music - or K-pop - is one of the most notable exports to come out of South Korea in the past decade.
  • Warm-up expected for the end of the week before new cold front

    Warm-up expected for the end of the week before new cold front

    The one thing that is sure about this set-up is that nothing is certain. "That's a pretty high number for 10 days out". As for snowfall, it appears there will only be a few chances for accumulating snow before the end of 2017.
    Campbell Soup Company agrees to acquire Snyder's-Lance

    Campbell Soup Company agrees to acquire Snyder's-Lance

    Including net debt and a $76 million make-whole payment, the deal is valued at $1.6 billion, the companies said in a news release. But he cautions that the deal sets Hershey up for competition with PepsiCo Inc's Frito-Lay and Campbell's Pepperidge.
    WWE Announces First Ever Women's Royal Rumble Match For Next Month's PPV

    WWE Announces First Ever Women's Royal Rumble Match For Next Month's PPV

    Stephanie McMahon announced on Raw that the Royal Rumble will kick off with a Royal Rumble match featuring women superstars. Immediately after the announcement was made, ESPN put up an interview with Stephanie McMahon talking about the announcement.