Three American businesses announced on Wednesday that they would both be investing hundreds of millions of dollars in their employees because of Republican tax reform bill that the Senate passed on Tuesday night.
AT&T announced that once President Donald Trump signed the bill into law that 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 U.S. employees.” AT&T further noted that if Trump signed the bill before Christmas that the company will receive the bonus over the holidays.
“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,” Randall Stephenson, AT&T chairman, and CEO said in a statement. “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.”
Boeing announced an “immediate commitment” to investing an additional $300 million in three areas that will directly benefit their employees:
“For Boeing, the reforms enable us to better compete on the world stage and give us a stronger foundation for the investment in innovation, facilities and skills that will support our long-term growth,” Muilenburg said. "Each of these investments benefits Boeing's most important strength – our employees – and reflects the real-time impact and economic benefit of the reforms.”
Fifth Third Bancorp, a bank headquartered in Ohio, announced that they would raise the minimum hourly wage for all employees to $15 following the tax reform bill and would give a one-time bonus of $1,000 to more than 13,500 of its employees.
AT&T announced that once President Donald Trump signed the bill into law that 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 U.S. employees.” AT&T further noted that if Trump signed the bill before Christmas that the company will receive the bonus over the holidays.
“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,” Randall Stephenson, AT&T chairman, and CEO said in a statement. “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.”
Boeing announced an “immediate commitment” to investing an additional $300 million in three areas that will directly benefit their employees:
- $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.
- $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.
“For Boeing, the reforms enable us to better compete on the world stage and give us a stronger foundation for the investment in innovation, facilities and skills that will support our long-term growth,” Muilenburg said. "Each of these investments benefits Boeing's most important strength – our employees – and reflects the real-time impact and economic benefit of the reforms.”
Fifth Third Bancorp, a bank headquartered in Ohio, announced that they would raise the minimum hourly wage for all employees to $15 following the tax reform bill and would give a one-time bonus of $1,000 to more than 13,500 of its employees.
