AT&T says to pay bonuses, invest $1 billion once tax reform signed

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"AT&T plans to increase USA capital spending $1 billion and provide $1,000 special bonus to more than 200,000 USA employees", he added, "and that's because of what we did".

In a memo, CEO Randall Stephenson told employees that "Once tax reform is signed into law, we plan to invest an additional $1 billion in 2018 and pay a special $1,000 bonus to more than 200,000 - all union represented, non- management and 1st and 2nd line managers - as added recognition for their dedication and hard work".

As many as 200,000 employees will receive a bonus of $1,000 under the plan, according to AT&T.

"Newly passed tax legislation includes a reduction in corporate tax rates created to spur economic growth".

While the bonus announcement was new, the planned additional investment wasn't -AT&T announced on November 8 that it would step up United States investment by $1 billion if a tax bill passed.

AT&T spent about $23 billion building out its infrastructure in 2016, and estimates earlier this summer suggested the company was on track to spend $22 billion in 2017.

Republicans passed their first major piece of legislation under president Donald Trump today (Dec. 20), a tax bill that slashes corporate tax rates and favors the wealthy. The new regulatory landscape will afford AT&T more flexibility to control the pricing and speed of content for its internet customers, although AT&T has said it will not make big changes to the way internet services are delivered.

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

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.

AT&T supporting the tax bill appears to some as an effort to appeal to Trump's good side, and possibly open the door to more merger negotiations.

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.

AT&T isn't alone in touting its plans to spend a portion of its windfall on workers - Boeing and Fifth-Third Bank have also released plans.

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

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