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Mr Trump posted a celebratory message on Twitter after big name firms including AT&T and Comcast credited the tax cut programme for allowing them to promise one-off payouts of up to $1,000 (£750) to hundreds of thousands of workers ahead of the festive season.

"We believe tax reform is good for our USA economy and are pleased to take these immediate steps to invest in our team members, communities, small businesses, and homeowners", said President and CEO Tim Sloan in a company release.

AT&T announced they would "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 US employees".

Ohio-based Fifth Third Bancorp said it will pay a $1,000 bonus to more than 13,500 employees, as well as raise the minimum wage for 3,000 of its workers to $15 an hour.

On Wednesday morning, Congress passed the biggest tax-reform bill in 31 years.

$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 our communities, and for veterans and military personnel.


Just in time for the holidays, AT&T and Comcast are promising employee bonuses and laying out substantial business investment plans in the wake of the passage of tax reform.

The longer-term outlook is more complicated because Congress chose to make corporate tax cuts permanent while setting most individual provisions to expire after 2025, leaving the eventual effect on middle-class households up to the changing political winds. Are the new worker benefits a public-relations move? Specifically, the GOP Act will cut the corporate tax rate from 35 percent to 21 percent. They will. Much has been made of how the Republican tax bill actually raises taxes for some people, but only 5% will see a short-term increase, according to the Tax Policy Center - and that mostly applies to affluent people who live in blue states with high taxes.

Here is a round up, so far, of companies that are celebrating the tax cuts by enriching their employees.

"That's because of what we did", Trump said of AT&T. For one, that money will only account for a fraction of what those companies can expect to save annually thanks to the legislation. Do some of these companies have pressing business before the federal government and wish to curry favor with the Trump administration? The Justice Department is now suing to block a proposed $85 billion merger between AT&T and Time Warner, a deal Trump has objected to as "not good for the country".

AT&T: $1,000 bonus to each of 200,000 US workers. But it does mean AT&T's bonuses aren't necessarily valuable data points for evaluating the tax overhaul.

"You saw company after company after company yesterday come out and immediately start giving bonuses to their workers all across this country", White House press secretary Sarah Huckabee Sanders said Thursday on Fox News Channel. The average person will save a few bucks, but it won't be lifestyle-altering.


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