"If the president signs the bill before Christmas, employees will receive the bonus over the holidays," AT&T officials said.
The company is in the middle of a proposed $85 billion merger with Time Warner that President Donald Trump has criticized. But at a White House celebration Wednesday of the passage of the new GOP tax legislation, the president opened the gathering pointing to AT&T's announced bonuses as proof that the bill will indeed prompt more corporations to reinvest in the U.S.
Corporations benefit the most under the new tax law, with a major and permanent reduction in the corporate tax rate from 35 percent to 21 percent.
The overhaul also doubles the standard deduction for individual taxpayers and drops the top income tax rate from 39.6 percent to 37 percent.