AT&T to pay $1000 bonus due to tax cuts

AT&T, Comcast Pledge Tax Savings Windfall Will Go Toward Network Investments, Employee Bonuses

AT&T's merger with Time Warner has been controversial with the Trump administration, and the Justice Department sued to block the move earlier this year saying it would hurt consumers. The checks will be in the mail in time for the holidays if Trump finalizes the tax bill with his signature before Christmas. "That's because of what we did".

AT&T also plans on increasing its capital spending in the United States by $1 billion.

U.S. President Donald Trump speaks during a rally at the St. Charles Convention Center on November 29, 2017 in St. Charles, Missouri.

The additional funding is expected to support AT&T's expanding high-speed Internet networks, as well as the next generation of wireless data, known as 5G, the telecom company said.

In a statement, AT&T CEO Randall Stephenson hailed "Congress, working with the President" for taking a "monumental step" that will "create good-paying jobs".

Nearly simultaneously with the AT&T announcement, Schumer gave a prepared speech attacking the notion of trickle-down economics and arguing that companies receiving tax breaks would just pocket the difference.

On a call with analysts, FedEx CEO Fred Smith praised the tax legislation as a "pro-growth" plan that will "power the economy".

In touting the GOP tax overhaul, Trump has repeatedly emphasized the importance of creating jobs.

Boeing Co. separately pledged $300 million Wednesday for employee training, improved workplace infrastructure and corporate giving, crediting the tax cuts.

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 made a decision to just play along with the emotional needs of a government run by a egomaniacal adolescent.

An hour later, Fifth Third Bank announced that almost 3,000 workers will see their pay rise to $15 an hour. Time Warner was up about 0.5%.

"We believe tax reform is good for our USA economy and are pleased to take these immediate steps to invest in our team members, communities, small businesses, and homeowners", said Wells Fargo President and CEO Tim Sloan.

A trial is scheduled for March 19.

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