Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Paul Ryan applauds as President Trump hugs Mitch McConnell as he speaks during an event on the South Lawn of the White House in Washington on Wednesday. Photo: Evan Vucci / AP

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.

The breakdown:

  • AT&T said it will give $1,000 bonuses to "more than 200,000 AT&T U.S. employees" and fulfill a $1 billion capital investment pledge as soon as the bill becomes law.
  • Fifth-Third Bancorp told Axios' Dan Primack that it will raise the minimum wage of its workforce to $15 per hour. It said 3,000 of its employees currently make less than $15 per hour. When asked why, given the $1.5 billion it made last year in profit, they had no comment.
  • Wells Fargo will reportedly increase its minimum wage to $15 an hour. The San Francisco-based bank also plans to allocate $400 million in donations to community and nonprofit organizations in 2018.
  • The Chicago-based Boeing Company said it's "still studying all of the provisions of the new legislation," but has committed $300 million for charitable giving, employee development programs and "workplace of the future" facilities and infrastructure enhancement.
  • Chairman and CEO of Comcast NBCUniversal Brian Roberts, said the company will award $1,000 in bonuses to more than one hundred thousand eligible frontline and non-executive employees. It will also spend $50 billion over the next five years to improve and extend its broadband plant and capacity. Roberts said this move would create "thousands of new direct and indirect jobs."

Go deeper: What you'll see under the new tax code

Go deeper

The new Washington

Illustration: Sarah Grillo/Axios

The Axios subject-matter experts brief you on the incoming administration's plans and team.

Rep. Lou Correa tests positive for COVID-19

Lou Correa. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Lou Correa (D-Calif.) announced on Saturday that he has tested positive for the coronavirus.

Why it matters: Correa is the latest Democratic lawmaker to share his positive test results after last week's deadly Capitol riot. Correa did not shelter in the designated safe zone with his congressional colleagues during the siege, per a spokesperson, instead staying outside to help Capitol Police.

Far-right figure "Baked Alaska" arrested for involvement in Capitol siege

Photo: Shay Horse/NurPhoto via Getty Images

The FBI arrested far-right media figure Tim Gionet, known as "Baked Alaska," on Saturday for his involvement in last week's Capitol riot, according to a statement of facts filed in the U.S. District Court in the District of Columbia.

The state of play: Gionet was arrested in Houston on charges related to disorderly or disruptive conduct on the Capitol grounds or in any of the Capitol buildings with the intent to impede, disrupt, or disturb the orderly conduct of a session, per AP.