Jeff Bezos says Amazon supports corporate tax rate hike
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.
The tax increase may be one of the primary points of contention as Congress considers the proposal. Sen. Joe Manchin (D-W.V.), a crucial swing vote, recently said 28 percent is too high for his liking.
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