Amazon is backing a corporate tax increase proposed by President Biden to help pay for its government’s $ 2 trillion infrastructure proposal, company founder Jeff Bezos said Tuesday.
Biden has proposed raising the corporate tax rate from 21 percent to 28 percent to help fund his sizable proposal.
“We recognize that this investment requires concessions from all sides – both in the details of what is included and how it is paid (we support an increase in the corporate tax rate),” Bezos said in a statement.
“We look forward to seeing Congress and the government come together to find the right, balanced solution that will maintain or improve the US competitiveness.”
The outgoing Amazon CEO was not specifically behind Biden’s plan, but said his company supports the administration’s “ focus on making bold investments in U.S. infrastructure. ”
Bezos’s statement came after the president called the e-commerce giant when he revealed its infrastructure plan, detailing how much it pays in federal taxes.
The president said last week that Amazon was one of 91 Fortune 500 companies “using several loopholes where they don’t pay a single cent in federal income tax.”
Amazon has long been criticized for paying virtually no federal taxes in the US for years.
Bezos, the richest man in the world, will step down as CEO in the third quarter of 2021.
With pole wires