Merry Trumpmas: $51B in Investments and 300,000+ workers bonus from $T and $CMCSA

AT&T and Comcast invest billions in America and awards $1000 bonus to more than 300,000 workers after passage of tax reform and the FCC’s action on broadband.

AT&T $T and Comcast $CMCSA invest billions in America and awards $1000 bonus to more than 300,000 workers after passage of tax reform and the FCC’s action on broadband.

merry trumpmas

AT&T

Once tax reform is signed into law, AT&T plans to invest an additional $1 billion in the United States in 2018 and pay a special $1,000 bonus to more than 200,000 AT&T U.S. employees — all union-represented, non-management and front-line managers. If the President signs the bill before Christmas, employees will receive the bonus over the holidays.

“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,” said Randall Stephenson, AT&T chairman and CEO. “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.”

Comcast

Based on the passage of tax reform and the FCC’s action on broadband, Brian L. Roberts, Chairman and CEO of Comcast NBCUniversal, announced that the Company would award special $1,000 bonuses to more than one hundred thousand eligible frontline and non-executive employees. Roberts also announced that the Company expects to spend well in excess of $50 billion over the next five years investing in infrastructure to radically improve and extend our broadband plant and capacity, and our television, film and theme park offerings.

With these investments, we expect to add thousands of new direct and indirect jobs. We will have more to say on capital at our upcoming January 24th earnings report.

 

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Wells Fargo $WFC hikes its hourly pay rate to $15 & will aim for $400M in philanthropic donations next year due to the newly-passed GOP tax bill.

Fifth Third Bancorp $FITB will pay more than 13,500 employees a bonus and raise the minimum wage of its workforce to $15 an hour after the passage of the Republican tax plan that will cut the bank’s corporate tax rate.

Source: Press Releases

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