Trump Tax Cut Kills 23,000 Jobs At AT&T As Calls Grow For Investigation

AT&T cut more than 23,000 jobs and slashed investment after getting a $21 billion tax cut from Donald Trump and the Republicans.

Trump gave AT&T a $21 billion tax cut that cost 23,000 workers their jobs

The Communications Workers of America said in a statement:

A new analysis of AT&T’s March proxy statement and annual report by the Communications Workers of America (CWA) shows the telecom company eliminated 23,328 jobs since the Tax Cut and Jobs Act passed in late 2017, including nearly 6,000 in the first quarter of 2019. These cuts come even as the company received a $21 billion windfall from the tax bill and is projecting $3 billion in annual tax savings going forward. AT&T’s annual report also shows the company boosted executive pay and suggests that after refunds, it paid no cash income taxes in 2018 and slashed capital investments by $1.4 billion.

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“What AT&T is doing to hardworking people across America is disgraceful,” said CWA President Chris Shelton. “Taxpayers aren’t going to let AT&T get away with receiving over $21 billion in tax cuts and then destroying the livelihoods of tens of thousands of people. Congress needs to investigate AT&T to find out how it is using its tax windfall since the company’s own publicly available data already raise serious alarm bells. AT&T got its tax cut. Where are the jobs?”

Republicans promised jobs and investment from tax cuts, instead, workers are getting laid off

Republicans promised jobs and investment from tax cuts, instead, workers are getting laid off

Verizon, GM, and Wells Fargo were three companies among many who took the tax cut and then laid off workers. One common outcome has been that companies have slashed investment, paid down debt, or bought back stock. They haven’t reinvested the money, created more jobs, or increased wages. It is time for Congress to investigate where the money is going.

Trump and the Republicans promised that the tax cut would be great for workers, but the prosperity has never arrived. The rich have gotten richer and everyone else has gotten the shaft.

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