How many leftists are benefitting from the tax reform? Well, how many work at AT&T? AT&T gives each employee an extra $1,000 bonus after tax reform.
On Tuesday evening Senate passed The Tax Cuts and Jobs Act. It was ratified by the House on Wednesday. Now the deal moves to President Trump's desk and if he signs the bill before Christmas, the AT&T employees will receive their bonuses this year.
— Bloomberg (@business) December 20, 2017
“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, 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.”
That's not the only move made by AT&T. The company is also going to dump $1 billion into the U.S. economy once the bill becomes a law.
There are many critics to the tax reform. The plan will reduce corporate taxes in an effort to improve liquidity of businesses and help drive growth. There are critics who say the plan will not help growth at all.
Per Daily Caller:
“CEOs aren’t waiting on a tax cut to jump-start the economy, a favorite phrase of politicians who have never run a company,” former New York City mayor and Democratic mega donor Michael Bloomberg wrote in an editorial. “It’s pure fantasy to think that the tax bill will lead to higher wages and growth.”
NBC’s “Today” show host Savannah Guthrie repeated Bloomberg’s position that businesses wouldn’t reinvest savings from the tax plan, and asked House Speaker Paul Ryan whether he was living in a “fantasy world” earlier Wednesday.
Ryan replied that the corporate tax cuts would likely encourage businesses to “reinvest in the workers, reinvest in the factories, pay people more money,
Moves like this by AT&T are great signs that the tax reform is going to charge up the United States economy.
Boeing Co. is another company who is making workplace investments after the tax bill was approved by Congress today. They are moving forward with $300 million in workplace investments and charitable contributions.
An announcement was made by Dennis Muilenburg, chairman, president and CEO of Boeing.
“On behalf of all our stakeholders, we applaud and thank Congress and the administration for their leadership in seizing this opportunity to unleash economic energy in the United States,” Muilenburg said. “It’s the single most important thing we can do to drive innovation, support quality jobs and accelerate capital investment in our country.”
— The Boeing Company (@Boeing) December 20, 2017
Per Geekwire, the $300 million includes:
- $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 community development, and for veterans and military personnel.
- $100 million for workforce development in the form of training, education and other capabilities development to meet the scale needed for rapidly evolving technologies and expanding markets.
- $100 million for “workplace of the future” facilities and infrastructure enhancements for Boeing employees.
Let's hope more and more companies make similar commitments after President Trump signs off on the bill and makes it a law.
Look at this video to give you more of an idea of who will save money with the new tax bill.