The Logical Leftist
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AT&T's Billion Dollar Investment Isn't What It Seems
Posted
December 22, 2017
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"AT&T on Wednesday announced plans to invest an additional $1 billion in the United States after the passage of the Republican tax bill. President Trump read the announcement at a ceremony at the White House celebrating the tax bill on Wednesday afternoon. “That’s pretty good,” he said.
It was also pretty good when AT&T made essentially the same announcement in November.
The telecom giant heralded the GOP’s tax bill, which both the Senate and House passed this week, as a measure that will “spur much-needed investment and economic growth” in a statement from CEO Randall Stephenson released on Wednesday. In a separate release, AT&T said it would make an additional billion-dollar investment in the United States in 2018 and pay 200,000 of its US employees a $1,000 bonus in celebration — with the extra cash coming before Christmas if President Donald Trump signs the bill in time.
While the bonus announcement was new, the planned additional investment wasn’t — AT&T announced on November 8 that it would step up US investment by $1 billion if a tax bill passed. House Speaker Paul Ryan’s press office posted the announcement on his website at the time, touting it as “yet another example of why we need to get tax reform done” this year. “This goes directly to the heart of our case for tax reform,” he said."
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