Just last week, President Biden called out Amazon for using loopholes to avoid paying federal income taxes as he explained his goal of raising the corporate tax rate to 28 percent.
As it turns out, Amazon CEO Jeff Bezos is on board with the hike, which the White House says would help pay for Biden's massive new infrastructure proposal. Bezos said the company backs the Biden administration's "focus on making bold investments in American infrastructure" and "we recognize this investment will require concessions from all sides," clarifying that raising the corporate rate is one such sacrifice Amazon is willing to accept.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Today's political cartoons - January 13, 2025Cartoons Monday's cartoons - mountains of paperwork, throwing fuel on the fire, and more
-
The revival of absintheThe Week Recommends The once-banned 'green fairy' is back in demand in cocktail bars around the UK
-
How could AI-powered government change the UK?Today's Big Question Keir Starmer unveils new action plan to make Britain 'world leader' in artificial intelligence
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
-
Biden expected to block Japanese bid for US SteelSpeed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
-
Rupert Murdoch loses 'Succession' court battleSpeed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
-
Bitcoin surges above $100k in post-election rallySpeed Read Investors are betting that the incoming Trump administration will embrace crypto
-
Enron mystery: 'sick joke' or serious revival?Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
-
US charges Indian tycoon with bribery, fraudSpeed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
