In a separate release, AT&T said it would make an additional billion-dollar investment in the United States in 2018 and pay 200,000 of its USA employees a $1,000 bonus in celebration - with the extra cash coming before Christmas if President Donald Trump signs the bill in time.
AT&T said the bonus payments will go to all union-represented, non-management and front-line managers, totaling more than 200,000 employees.
"We believe tax reform is good for our USA economy and are pleased to take these immediate steps to invest in our team members, communities, small businesses, and homeowners", said President and CEO Tim Sloan in a company release.
The House of Representatives on Wednesday sent tax reform legislation to President Donald Trump, who is expected to sign it soon.
Under the new plan, the top corporate tax rate in the USA will fall from 35% to 21%.
"Newly passed tax legislation includes a reduction in corporate tax rates created to spur economic growth".
"Yes it is commendable that AT&T is giving its employees a $1,000 bonus".More news: PlayerUnknown's Battlegrounds Hits 1 Million Players On Xbox One, Another Milestone Reached
AT&T will award some 200,000 bonuses in the wake of the Trump administration's massive tax overhaul. However the fundamental objection from the White House is widely believed to be Time Warner subsidiary CNN's critical coverage of Trump.
AT&T supporting the tax bill appears to some as an effort to appeal to Trump's good side, and possibly open the door to more merger negotiations. Companies have indicated that they mostly plan to use their savings to buy back stock and pay more dividends, benefiting the wealthy owners of corporate stock.
The president suggested other companies would be making similar announcements, saying "We're going to see something that's very special".
If President Trump signs the tax bill before Christmas, employees will receive the bonus over the holidays, the company said. Boeing, a major defense contractor, gets almost one-quarter of its revenue from the federal government. Time Warner was up about 0.5%.
While the bonus announcement was new, the planned additional investment wasn't -AT&T announced on November 8 that it would step up U.S. investment by $1 billion if a tax bill passed.