[Free Beacon] Senate Minority Leader Chuck Schumer (D., N.Y.) on Wednesday attacked AT&T by name for not passing along tax savings to its employees immediately after the telecommunications giant announced that it would do just that.AT&T announced Wednesday that it will give $1,000 special bonuses to more than 200,000 "union-represented, non-management and front-line managers" and invest an additional $1 billion in the U.S., citing the House and Senate passage of the sweeping Republican tax reform bill as its reason for doing so.
"Congress, working closely with the president, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world," said Randall Stephenson, AT&T chairman and CEO. "This tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees."
"Since 2012, AT&T has invested more in the United States than any other public company," the company added. "Every $1 billion in capital invested in the telecom industry creates about 7,000 jobs for American workers, research shows."
Almost simultaneously with the AT&T announcement, Schumer gave a prepared speech attacking the notion of trickle-down economics and arguing that companies receiving tax breaks would just pocket the difference.