AT&T said it will give a special $1,000 bonus to more than 200,000 employees as Republicans passed the Tax Bill today.
“If the President signs the bill before Christmas, employees will receive the bonus over the holidays,” the company said in a statement.
CEO Randall Stephenson said that this tax reform “will drive economic growth and create good-paying jobs.” He added that the company plans to increase its capital investment, which will create more jobs.
Speaking at an Economic Club of New York lunch in late November, Stephenson said that if tax reform passed they would spend “at least” $1 billion and create an estimated 7,000 jobs.
“From my standpoint, the driver of this is the business tax reform… if we get investment going, we get productivity going, we get wage gain going, we invest another billion dollars,” Stephenson said at the time. “Every billion dollars AT&T invests is 7,000 hard hat jobs. These are not entry-level jobs. These are 7,000 jobs of people putting fiber in ground, hard hat jobs that make $70,000 to $80,000 per year.”
He described passing tax reform as a “major” item for the U.S. economy.
“I cannot overstate how important I think a tax bill that makes the US corporate taxes a competitive regime around the world — that’s big. That’s significant,” he said.
He added that it would be a “capital-freeing” event for corporate America.
“You are freed up to invest more capital,” he said. “We have so many initiatives and projects that we would like to invest more in.”