Amazon founder Jeff Bezos said Tuesday that Amazon supports a corporate tax hike proposed by President Biden to pay for the $ 2 trillion infrastructure proposal from $ administration.
Biden has proposed raising the corporate tax rate to 28 percent from 21 percent to help fund its comprehensive proposal.
“We realize that this investment will require concessions from all sides, both on the details of what is included and on the payment thereof (we support an increase in the corporate tax rate),” Bezos said in a statement.
“We look forward to Congress and the Administration coming together to find the right, balanced solution that maintains or improves American competitiveness.”
The outgoing Amazon CEO does not specifically support Biden’s plan, but says his company supports the administration’s “focus on bold investments in U.S. infrastructure.”
Bezos’ statement comes after the president called out the e-commerce giant when he announced his infrastructure plan, blowing it over how much it pays in federal taxes.
The president said last week that Amazon is one of 91 Fortune 500 businesses that “use different loopholes where they do not pay a single cent in federal income taxes.”
Amazon has long been criticized for paying virtually no federal taxes in the U.S. for years.
Bezos, the richest man in the world, will step down from the role of CEO during the third quarter of 2021.
With Post threads