AT&T Inc (NYSE:T) on Wednesday disclosed that the GOP tax bill would lead to $1,000 bonuses for all its employees. It has plans underway to channel an additional $1 billion into its U.S. networks next year as it continues to look forward to the passage of the Republican-led tax bill in Congress.
An official working with AT&T outlined that the additional funding would go a long way in helping them expand their high-speed Internet networks and their 5G as well.
AT&T’s chief executive, Randall Stephenson opined, “Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world. As many as 200,000 employees will receive a bonus of $1,000 under the plan.”
The move by the House and Senate Republicans to approve a massive tax bill which cut down the corporate tax rate from 35 percent to 21 percent has been received well by a large section of citizens, though some will be paying higher taxes because the bill is revenue neutral.
Analysts speaking in relation to the matter have said that the telecom industry stands out as the biggest beneficiary of the new legislation. It was not easy to get the government to make such an enormous decision and apparently the future looks bright for the industry leader.
A person familiar with the matter has revealed that the bonuses won’t be a part of the union contract agreement which was pronounced the previous week. According to him, these bonuses emanated from the talks that were held between AT&T’s Stephenson and the CWA President Christopher Shelton.
CWA has over the years given hope to employees telling them that the employers can sometimes be manipulated or pushed to do the right thing. CWA exuded great confidence in saying that by people coming together they can succeed in their quest negotiate for a fair return for the work we do. According to it the union remained the best mechanism for the working population to stand together in pushing for wage growth as well as maintaining good jobs in the U.S.
