Manufacturers have pointed out that passing bold tax reform that makes our tax code more competitive will lead to further investment in the United States, job growth and rising paychecks for American workers.
AT&T announced Wednesday morning that, if tax reform is passed into law, that’s exactly what it intends to do.
Randall Stephenson, AT&T chairman and CEO, wrote in a press release that the company plans to invest $1 billion in the United States within the first year that the new tax code is law:
“With a rate of 20 percent combined with provisions for full expensing of capital expenditures for the next five years, we’re prepared to increase our investment in the United States. If the House bill is signed into law, we’d commit to increase our domestic investment by $1 billion in the first year in which the new rates are in place. And research tells us that every $1 billion in capital invested in telecom creates about 7,000 good jobs for the middle class.”
The release notes that the increased investment will go toward AT&T’s fiber build-out efforts for U.S. homes and businesses. It also stated that AT&T would have incentives to make further investment in the United States in subsequent years.
AT&T’s announcement is just one example of why manufacturers—and workers across the country—need Congress to pass bold, competitive tax reform. New jobs and rising paychecks hang in the balance.
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