AT&T says it is going to pay a $1,000 bonus to more than 200,000 employees in the US after the Tax Cuts and Jobs Act is signed into law.
The bill passed through both chambers of Congress on Wednesday. The bill, which is awaiting President Donald Trump's signature, reduces the corporate tax rate to 21% from 35% and allows a one-time repatriation of overseas cash, providing a big boost to America's biggest companies.
"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," a company said in a press release. "If the President signs the bill before Christmas, employees will receive the bonus over the holidays."
The announcement from AT&T comes a month after the company blasted the US Department of Justice over its plans to sue to block the company's $84.5 billion takeover of Time Warner.
This story is developing.