Wow. I knew that tax reform would transform the lives of everyday Americans, but I never expected that it would be so soon. Within hours of President Trump’s victory speech, business leaders began responding.
AT&T announced Wednesday that in celebration of the successful vote, it would give 200,000 of its U.S. employees a $1,000 holiday bonus once the measure is officially signed into law.
$1,000 isn’t chump change; it’s enough to make a difference in most families. Trump was right- the tax reform bill IS an amazing Christmas gift to the Americans people.
“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,” AT&T CEO Randall Stephenson said in a statement.
“This tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees.”
Before news of AT&T’s decision had been fully digested, Comcast announced that they were doing the same thing. 100,000 of their employees can expect to receive a check for $1,000.
Executives are positively giddy about the tax reform package.
“The new tax law will drop the corporate tax rate to 21 percent from the current 35 percent and includes other measures that Republicans say will spur businesses to invest domestically. AT&T’s effective tax rate was 32.7 percent in 2016,” notes CNBC.
Trump is a master businessman. Don’t expect, however, that the Democrats will recognize his brilliance. Every single one of them pitted themselves against tax reform; they’re miserable that it’s passed.