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.
As many as 200,000 employees will receive a bonus of $1,000 under the plan, according to AT&T. If President Donald Trump signs the bill before Christmas, AT&T employees will get their bonuses this year.
Some, like former New York City Mayor Michael Bloomberg, have said that it is "pure fantasy to think that the tax bill will lead to significantly higher wages and growth".
Shares of AT&T were up 1.16% on Wednesday, to $38.49.
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.
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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.
Last month, Stephenson blasted the Department of Justice over its plans to sue to block his company's $84.5 billion takeover of Time Warner.
No one can seem to agree on who will benefit from the passage of the GOP tax bill, or what actual effects it will have on workers.
To be sure, AT&T isn't the first company to recycle old news to impress Trump.
"$100 million for corporate giving, with funds used to support demand for employee gift-match programs and for investments in Boeing's focus areas for charitable giving: in education, in our communities, and for veterans and military personnel".
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. If the companies don't extend the deadline, AT&T must pay Time Warner a $500 million breakup fee.
The moves come as AT&T gears up for a fight with the federal government.