AT&T announced plans to give $1,000 bonuses to its more than 200,000 U.S. employees in response to Congress' passing the tax reform bill Wednesday.
"Today, Congress approved legislation representing the first comprehensive tax reform in a generation," the company said in a statement released Wednesday afternoon.
"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. If the president signs the bill before Christmas, employees will receive the bonus over the holidays," AT&T added.
AT&T Chairman and CEO Randall Stephenson said the reforms are a "monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world," a phrase House Speaker Paul Ryan used this morning in various television interviews.
“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," Stephenson added.
AT&T estimated that the $1 billion investment will create 7,000 new jobs for American workers.
However, the move comes more than one month after the company announced its intentions to merge with Time Warner. The Trump administration responded with a lawsuit to keep both entities from joining in the $85 billion deal.
The agency said it is concerned the merged companies could charge unfair fees, though skeptics have said the administration's attempt to block the business deal is meant to hurt CNN.