Companies unveil wage hike plans after tax bill passage
After the passage of the GOP's sweeping tax plan that would cut the corporate tax rate, AT&T, Wells Fargo, Fifth Third Bancorp, Boeing and Comcast announced plans to increase their employee pay and benefits.
Why it matters: This move will please the White House and Republicans who have been pitching corporate tax cuts from 35% to 21%, beginning in 2018, as a boost for American workers and economy. The Associated Press reports that per a White House official, these announcements were not coordinated with the president's economics team. The official "insisted on anonymity to discuss private conversations," per the AP.