"Yes it is commendable that AT&T is giving its employees a $1,000 bonus". The bill cuts the corporate tax rate from 35 percent to 21 percent, repeals ObamaCare's individual mandate requiring people to buy health insurance and allows for drilling in the Arctic National Wildlife Refuge.
Wells Fargo and Fifth Third Bancorp said they plan to hike their company-wide minimum wages to $15 an hour.
He has said the cuts will lead to higher wages and more USA investment. Many economists argue that corporations will use the funds to benefit their investors through stock buybacks and bigger dividends.
The telecom giants have said that tax reform, coupled with the Federal Communications Commission's repeal of the Net Neutrality regulations last week, will make room for additional investments on employees, as well as network infrastructure and next-generation technologies, such as 5G.
Exactly how it will play out remains a topic of fierce debate.
Comcast announced Wednesday that it would award one-time $1,000 bonuses to more than 100,000 employees, which would include frontline and non-executive employees.
"In fact, we will increase our USA investment and pay a special bonus to our USA employees", Randall Stephenson, AT&T's chairman and CEO, said in the statement.
"On behalf of all of 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", Boeing CEO Dennis Muilenburg said in a press release. The funds will be split evenly among worker training, upgrading facilities and a program that matches employees' charitable contributions.
Boca Raton Bowl 2017: Florida Atlantic vs
Interestingly, there is one common opponent: Akron beat Buffalo 21-20 and Buffalo edged FAU 34-31; that was FAU's last loss. This is Bowden's sixth season at Akron and his second bowl with the Zips, who went to the Famous Idaho Potato Bowl in 2015.
When it came to the tax overhaul, top White House economics aide Gary Cohn said at Wednesday event with the media outlet Axios that the president "cared a lot about the business rate".
"If the President signs the bill before Christmas, employees will receive the bonus over the holidays", the company said in a statement.
"With these investments, we expect to add thousands of new direct and indirect jobs", Comcast's chairman and CEO Brian Roberts said in the company's statement.
Two company spokesmen confirmed the announcement was tied to tax reform.
The bank also pledged to give out $1,000 bonuses to about 13,500 of its workers.
Some of the cash windfall from corporate tax cuts is already trickling down to Main Street workers. That will mark a $1.50 increase over the company's current minimum of $13.50 per hour.
Other companies, including Fifth Third Bancorp, Wells Fargo and Boeing, also announced that they would pass along tax savings to their workers. The San Francisco-based bank also said it would target $400 million in donations to community and nonprofit organizations next year.