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As soon as the House and Senate had passed the big tax reform bill Wednesday, AT&T made a big announcement. The telecom leviathan said it would give more than 200,000 US employees a special bonus of $1,000. AT&T also increased its US capital expenditures budget by $1 billion.
“This tax reform will drive economic growth and create good-paying jobs,” CEO Randall Stephenson said. “In fact, we will increase our US investment and pay a special bonus to our US employees.”
An hour later, Fifth Third Bank announced that nearly 3,000 workers will see their pay rise to $15 an hour. The company also said they will hand out $1,000 one-time bonuses to their workforce.
Then, an hour after that, Wells Fargo announced that it too will boost its minimum wage to $15 an hour. The bank also allocated $400 million for donations to the community in 2018.
Man, this tax cut news just keeps getting worse and worse.