AT&T to increase investment by $1 bn if US approves corporate tax bill

AT&T CEO Randall Stephenson image by BloombergRandall Stephenson, AT&T Chairman and CEO, today announced the telecom operator will step up its 2018 U.S. investment by an additional $1 billion if the Congress and the President approve the new corporate tax bill.

“By immediately lowering the corporate tax rate to 20 percent, this bill will stimulate investment, job creation and economic growth in the United States,” said Randall Stephenson, AT&T Chairman and CEO.

“If the House bill is signed into law, we’d commit to increase our investment by $1 billion in the first year in which the new rates are in place. Every $1 billion in capital invested in telecom creates about 7,000 good jobs for the middle class.”

AT&T’s year-one incremental investment will support the company’s fiber build to U.S. homes and businesses. Beyond 2018, a lower tax rate would incent AT&T to continue to deploy incremental capital to its fiber and future 5G builds.

Since 2012, AT&T has invested more in the United States than any other public company.

AT&T has continued its strong momentum with FirstNet. Today, 31 states and territories have opted in to the FirstNet network—the country’s only communications platform purpose-built with public safety, for public safety.

AT&T’s discussions with the U.S. Department of Justice regarding the company’s acquisition of Time Warner are continuing. “There is now uncertainty as to when the deal will close,” said AT&T chief financial officer John Stephens, speaking at the Wells Fargo Media & Telecom conference today.