Comcast employees win big with $100M in bonuses with Republican tax plan
Comcast employees take home some bacon from GOP tax plan. The cable company also says it will put $50 billion into its network, theme parks and film studios in capital investments over the next five years.
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About 100,000 Comcast employees will get more than lumps of coal for bonuses this year, thanks to the GOP tax plan.
The cable giant says it will hand out $1,000 bonus checks this year for techs, managers, customer service reps, executives and others — or collectively $100 million.
A windfall for corporations, the Republican tax plan will slash corporate taxes from 35 percent to 21 percent, which will boost profits for corporations. The bill's progress has helped fuel the bull stock market this year.
Comcast CEO Brian Robert also said the Philadelphia company will invest at least $50 billion in capital improvements over the the next five years to "to radically improve and extend our broadband plant and capacity, and our television, film and theme park offerings." He said the investments should lead to thousands of direct and indirect jobs.
A company spokesman said that the $50 billion is more than the company previously estimated it would spend over the five years.
Democratic critics say the GOP tax plan will lead to soaring federal deficits and benefit wealthy individuals and corporations, which Trump disputed in a tweet this morning.