EMPLOYEES OF CERTAIN BIG BUSINESSES ARE ALREADY REAPING REWARDS FROM THE PASSAGE OF THE TAX REFORM BILL

Winchester, VA – Fox Business is reporting that some of the largest companies in the United States are celebrating the passage of the new tax reform bill and its lowering of the corporate taxrate from 35% to 21% by rewarding their employees. AT&T announced yesterday that over 200,000 of its employees will be eligible for a $1,000 bonus check which might make it in time for the holidays if the President signs the bill before Christmas. They have also committed to investing $1 billion more than projected in their operations in the United States. Aerospace and defense company boeing announced $300 million in investments with $100 million going toward corporate giving, another $100 million going to workforce, training and education, and $100 million towards enhancing their work sites. Comcast is giving $1,000 bonuses to over 100,000 non-executive employees and announced plans to spend over $50 billion on infrastructure investments which will create thousands of new jobs. Fifth Third Bancorp is raising the hourly minimum wage to $15/hour and is offering $1,000 bonuses for over 13,500 employees. Wells Fargo is also raising the minimum wage to $15/ hour and is slating $400 million for philanthropic initiatives such as investments in small businesses and support for neighborhood revitalization efforts.