Amazon supports a corporate tax increase proposed by President Biden to help pay for his administration’s $ 2 trillion infrastructure proposal, company founder Jeff Bezos said Tuesday.
Biden has proposed raising the corporate tax rate to 28 percent from 21 percent to help fund his broad proposal.
“We recognize that this investment will require concessions from all sides, both in the specifics of what is included and in the way it is paid (we support an increase in the corporate tax rate),” Bezos said in a statement.
“We hope that Congress and the Administration will come together to find the correct and balanced solution that will maintain or improve America’s competitiveness.”
The outgoing Amazon CEO did not specifically endorse Biden’s plan, but said his company supports the “management’s focus on making bold investments in American infrastructure.”
Until next time
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Bezos’s statement came after the president criticized the e-commerce giant when it unveiled its infrastructure plan, criticizing how much it pays in federal taxes.
The president said last week that Amazon was one of 91 Fortune 500 companies “using various loopholes where they don’t pay a single penny in federal income taxes.”
Amazon has been criticized for years for paying virtually no federal taxes in the US for years.
Bezos, the world’s richest man, will step down as CEO during the third quarter of 2021.
With cable poles