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American companies announce employee bonuses, new investment - and they're crediting Trump

Several U.S. companies announced new investment into the U.S., and bonuses for their employees in anticipation of the tax cut promised by the Republican tax reform bill. (Nicholas Kamm/AFP/Getty Images)

While many say that the Republican tax reform bill won't help the common worker, several companies announced bonuses and new investment in the U.S. after Congress passed the signature legislation.

AT&T

The telecommunications giant was the first to announce that its employees would receive special bonuses as a result of President Donald Trump's tax cut bill.

"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," read a statement from the company.

"AT&T plans to increase U.S. capital spending $1 billion and provide $1,000 special bonus to more than 200,000 U.S. employees," Trump announced happily at the celebration over the bill Wednesday.

Fifth Third Bancorp

The finance company followed in AT&T's footsteps and said it would give all of its 13,500 employees a $1,000 bonus while raising their hourly wage to $15.

Wells Fargo

The bank said it would also raise employee wages to $15 an hour, and donate $400 million for philanthropic causes.

Comcast

Comcast announced it would donate $50 billion over the next five years in infrastructure spending, and pay a bonus of $1,000 to more than 100,ooo "eligible front-line and non-executive employees."

Boeing

Boeing said it would donate $300 million into employee-related and charitable investment.

What are the critics saying?

The bill was passed by the House on Wednesday despite criticism from Democrats that it would add to the deficit and mostly provide tax breaks to corporations and the wealthy.

One last thing…
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