Amazon’s founder Jeff Bezos said on Tuesday that Amazon supports President Biden’s corporate tax increase to help pay for its government’s $2 trillion infrastructure proposal.
Biden proposed to increase the corporate tax rate from 21% to 28% to help fund his comprehensive proposal.
Bezos said in a statement: “We believe this investment will require concessions from all parties-including the details of what is involved and how to obtain payment (we all support the increase in corporate tax rates).”
“We look forward to Congress and the government working together to find a correct and balanced solution that can maintain or enhance the competitiveness of the United States.”
The outgoing Amazon CEO did not specifically support Biden’s plan, but said his company supports the Obama administration “committed to making bold investments in US infrastructure.”
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Before Bezos issued the above statement, President Obama announced his own infrastructure plan and called on the federal government to pay how much taxes to announce the e-commerce giant.
President Obama said last week that Amazon is one of 91 “Fortune 500” companies that “utilized various loopholes to pay only one penny in federal income tax.”
For years, Amazon has been criticized for paying almost no federal taxes in the United States.
Bezos, the world’s richest man, will step down as CEO in the third quarter of 2021.