AT&T CEO: Trump's Tax Cuts Will Mean More ‘hard Hat' Jobs

AT&T's CEO Randall Stephenson appeared on CNBC this morning, and there was a lot to talk about, but Stephenson wanted to talk tax cuts.He praised the Trump administration's outline for a tax plan that could reduce corporate tax rates to somewhere around 15 percent.Stephenson said even it doesn't go that low, a tax cut would encourage the telecom giant look to at making more capital investment."If you can have a tax reduction of 35 percent down to -- you pick your number -- 25, 20 percent, to think that wouldn't cause additional investment is nonsensical," Stephenson said.That investment would have a ripple effect in the economy, Stephenson argued."The arithmetic for us is simple: For every billion dollars of additional investment we make is 7,000 additional jobs we have to put on to put that capital into the ground or on cell towers and so forth," he said, adding that those jobs would likely be "hard hat" jobs that pay well.Stephenson has been sounding rather bullish on the Trump administration of late. AT&T has several priorities that federal agencies seem to be moving in favor of.During the campaign, Trump said he disliked the idea of AT&T's $108.7 billion merger with Time Warner, saying it concentrated too much media power in a few hands.But since the election, the Federal Communications Commission, whose chairman is nominated by Trump, has said it would not review the merger, and Trump's pick to lead the Justice Department's antitrust division, which could review the merger, has said he doesn't see any problems with it.The FCC also recently moved to outline a framework for getting rid of net neutrality rules that AT&T and other broadband providers had fought.See the interview below:  Continue reading...

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