Thursday, December 21, 2017

Armageddon Updates

Armageddon Updates. By Jim Geraghty
Excerpt: “Probably one of the worst bills in the history of the United States of America. The debate on health care is like death. This is Armageddon.” — House minority leader Nancy Pelosi, describing the Republican tax cut bill, December 4. Ladies and gentlemen, witness the horror of our Armageddon: "In the hours after Congress approved the GOP tax cut plan, a handful of companies jumped to announce plans to share some of the proceeds on their employees and spend on infrastructure. Boeing was first out of the gate, followed by AT&T, which said it would give more than 200,000 unionized employees a special bonus of $1,000 once the tax bill is signed. The company also said it would increase its capital expenditures by $1 billion. Both Fifth Third Bancorp and Wells Fargo followed, saying they would raise their minimum wage to $15 an hour. Fifth Third said it would also give workers a bonus, and Wells Fargo said it would give $400 million to community and nonprofit organizations next year. Comcast, which owns CNBC parent NBCUniversal, said it would pay 100,000 frontline and non-executive employees special $1,000 bonuses. The company also said it is making the move because of the FCC’s recent change in broadband rules and tax reform. It also said it plans to spend well in excess of $50 billion over the next five years on infrastructure improvements."

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