Comcast and AT&T announce fresh investment plan

Comcast and AT&T announce fresh investment plan

"Congress, working closely with the President, took a monumental step to bring taxes paid by USA businesses in line with the rest of the industrialized world", Randall Stephenson, AT&T chairman and CEO, said in a statement.

AT&T would pay a special $1,000 bonus to more than 200,000 AT&T US employees - all union-represented, non-management and front-line managers.

"Our spokesperson made a mistake and we apologize for this", said Arati Randolph, director of internal communications at Wells Fargo. "So that's pretty good".

Comcast, which owns CNBC parent NBCUniversal, said it would pay 100,000 frontline and non-executive employees special $1,000 bonuses.

Scandal-plagued Wells Fargo said it would boost its minimum wage to $15 an hour, an 11-percent increase, beginning in March. "Capital expenditures tend to be 'lumpy.' Providers make significant expenditures to upgrade and expand their networks in one year (e.g., perhaps because a new generation of technology has just been introduced), and then focus the next year on signing up customers and integrating those new facilities into their existing networks, and then make additional capital expenditures later, and so on".

Specifically, the GOP Act will cut the corporate tax rate from 35 percent to 21 percent.

When it came to the tax overhaul, top White House economics aide Gary Cohn said at Wednesday event with the media outlet Axios that the president "cared a lot about the business rate".

Wells Fargo: The company announced a $15 an hour wage raise for workers, though it did not link it to the passage of the tax bill.

"If these companies had wanted to make these investments in their workforce, they could have done it before now", Gardner said.

When ISPs are asking the government for a specific policy change-such as the repeal of a regulation or a tax break-they are quick to claim that the desired policy will lead to more investment.

The Tax Cuts and Jobs Act was passed by Congress this week. Analysts at Goldman Sachs estimate that the tax cuts would add $3.7 billion to its annual net income. The bank will also earmark $100 million of capital "and other resources" for small-business and community-focused lending. Trump said on Twitter this month that fines and penalties against the bank "will be pursued and, if anything, substantially increased".

And Fifth Third Bancorp., a regional bank based in Cincinnati, said it would boost its minimum wage for all of its almost 3,000 hourly employees to $15 as well as distribute a one-time bonus of $1,000 for more than 13,500 employees.