Amazon supports a corporate tax hike proposed by President Biden to help pay for his administration’s $2 trillion infrastructure proposal, the company’s founder, Jeff Bezos, said on Tuesday.
Biden has proposed increasing the corporate tax rate to 28 percent from 21 percent to help fund his sweeping proposal.
“We recognize this investment will require concessions from all sides — both on the specifics of what’s included as well as how it gets paid for (we’re supportive of a rise 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 enhances US competitiveness.”
The outgoing Amazon CEO didn’t back Biden’s plan specifically, but said his company supports the administration’s “focus on making bold investments in American infrastructure.”
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Bezos’ statement came after the president called out the e-commerce giant when he unveiled his infrastructure plan, blasting it over how much it pays in federal taxes.
The president said last week that Amazon was one of 91 Fortune 500 companies that “use various loopholes where they pay not a single solitary penny 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 be stepping down from the CEO role during the third quarter of 2021.
With Post wires
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