World Bulletin / News Desk
The controversial and wide-ranging legislation is now headedBy for President Donald Trump’s likely approval within the next few days, giving the White House and Republicans its first major legislative victory this year.
Companies including AT&T, Comcast, Fifth-Third Bank, Boeing and Wells Fargo said they would now raise wages and give out large bonuses, putting into practice Republican talking points that the drastically lower corporate tax detailed in the bill would be good for workers.
AT&T said it would give a one-time $1,000 bonus to some 200,000 employees following the bill’s passage.
“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 AT&T CEO Randall Stephenson in a statement.
Fifth Third Bancorp, a bank mostly based in the Midwest, said it would boost the minimum wage it pays its lowest-paid workers to $15 per hour and also give out $1,000 bonuses to its over 13,500 employees. Wells Fargo said it would also increase its lowest wage levels to $15 per hour.
"It is good for our communities, employees and Fifth Third Bank,” Fifth Third CEO Greg Carmichael said of the tax bill in a statement.
Whether the passage of the bill means a continued windfall for employees is a very open question. The corporate tax rate in the bill is decreased from 35 percent to 21 percent. While Trump, Congressional Republicans and some corporations have said that the money saved from lower taxes would be passed on to employees, others have argued the money would go to shareholders. A recent survey of business leaders have said they would use the tax breaks for stock buybacks and to pass on profits to those holding stock.
Israeli army frequently conducts wide-ranging arrest campaigns in the occupied West Bank
Probe by Israeli rights group B'Tselem concludes that intentional fatal shot was fired at the Palestinian paramedic.
"I accept our intelligence community's conclusion that Russia's meddling in the 2016 election took place," Trump said
Here are five takeaways from the news conference that followed their first summit, in the Finnish capital Helsinki:
An abandoned mining town in California went on sale for $ 1.4 million
Roughly 80 percent of Iraq’s crude oil exports originate from oilfields in Basra province
Kerem Shalom is Gaza's only functioning commercial crossing
More than 130 Palestinians have been killed by Israeli fire since March
Resources strained as thousand crossing into Canada from US
American Civil Liberties Union granted request to halt deportations for one week after reunification
Trump declared that US-Russian relations have turned a corner after a summit with his Russian counterpart Vladimir Putin that he described as "open, direct and deeply productive".
Operation is aimed at restoring confidence after last year’s illegitimate poll on Kurdish regional independence
The U.S. State Department is negotiating a potential deal to sell Turkey the Raytheon Co Patriot missile defense system as an alternative to the Russian-made S-400 system Turkey has agreed to purchase, an official said on Monday.
ISIL still maintains a limited presence in northern and western Iraq
90 more migrants in critical condition found inside shipping containers