Several businesses announce bonuses to workers after passage of tax cut bill

With businesses getting a permanent tax cut, from 35 percent to 21 percent, some companies have announced bonuses to employees, new investments and pay hikes.
2:35 | 12/21/17

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Transcript for Several businesses announce bonuses to workers after passage of tax cut bill
to swift reaction to president trump's first major legislative victory since taking office. His tax cut bill passing. Corporate America getting the biggest tax cuts, and tonight, several businesses announcing bonuses now for workers. The president and the Republicans saying this is proof the bill is already working. But the real test, will the billions saved really be reinvested into the American worker? With new pay raises and new jobs. ABC's Mary Bruce is at the white house. Reporter: President trump today heading out to spread holiday cheer to wounded troops. We're just going to wish them a merry Christmas, a happy new year. Reporter: Just one day after he delivered what he calls a present to the American people. Tax reform. It will be an incredible Christmas gift for hard-working Americans. Reporter: But it's actually corporations who stand to benefit most. They get a permanent tax cut from 35% down to 21%. Ultimately, what does it mean? It means jobs, jobs, jobs. Reporter: Republicans insist corporations will use their savings to boost wages and grow the economy. And some major companies were quick to respond. AT&T says more than 200,000 employees will receive a $1,000 bonus. Comcast, Wells Fargo and Boeing have also announced new investments or wage hikes. We're heartened that hours after this bill passed, we're seeing companies across the country giving bonuses to their employees. Reporter: But are these more than just one-time gestures? Boeing has big contracts with the government. AT&T is hoping the administration will green light a big merger with Time Warner. And even when it pays out $200 million in bonuses, one top tax expert tells us AT&T could save $2 billion a year from the trump cuts. Tax breaks don't lead to job creation. They lead to big CEO salaries and money for the very, very wealthy. Reporter: Even before the trump tax cuts kick in, corporate America has already been sitting on massive amounts of cash that they haven't been passing on to workers. The question tonight, will that change? So, let's get to Mary Bruce, live at the white house tonight. And Mary, on capitol hill tonight, congress voting to prevent that government shutdown. And we learned to temporarily extend the children's health insurance program, which, as we know, covers 9 million American children, some who have lost their insurance already, others who were set to lose their coverage in the coming days? Reporter: David, congress is voting on a short-term funding fix for children's health insurance. And to keep the government up and running. But just through January 19th. Punting, essentially, on many tricky political debates until after the new year. David?

This transcript has been automatically generated and may not be 100% accurate.

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