Amazon CEO says Biden supports infrastructure planning and corporate tax hike – Lexington-Fayette, Kentucky

Lexington-Fayette, Kentucky 2021-04-08 11:14:10 –

In a statement released Tuesday, Amazon CEO Jeff Bezos came out in support of President Joe Biden’s proposed infrastructure plan, despite the package raising corporate tax rates significantly.

“We support the Biden administration’s focus on making bold investments in US infrastructure. Both Democrats and Republicans have supported infrastructure in the past. Now is the right time to work together to make this happen. ” Bezos wrote..

Bezos not only supported Biden’s plans, but also specifically supported the White House’s proposed increase in corporate tax rates for package payments.

“We recognize that this investment requires concessions from all sides, both in detail and in payment methods (in favor of raising corporate tax rates),” Bezos wrote. .. “We look forward to bringing Congress and the administration together to find the right and balanced solution to maintain or strengthen the competitiveness of the United States.”

Bezos did not specify which corporate tax rate should be raised or how high it should be.

Earlier this month, Biden made a major $ 2 trillion announcement Infrastructure package It will not only upgrade America’s dilapidated roads, bridges and airports, but also improve public transport and rail systems. The bill also addresses the care of older Americans and affordable housing.

To pay for the package, Biden proposed raising the corporate tax rate to 28%. The current federal corporate tax rate is 21%. This was set when President Donald Trump cut the tax from 35% as part of the 2017 tax cut.

Bezos’ support for a corporate tax hike comes after years of criticism from lawmakers and activists who claim that Amazon isn’t paying enough taxes.

2019, Biden called Amazon By trying to avoid paying taxes, he urged the company to rebuke his anger.

The company also publicly sparred Senator Elizabeth Warren, D-Massachusetts, accused the company of abusing loopholes and tax havens.

The militant Amazon replied immediately.

“You enact tax laws at @SenWarren. We follow them. If you don’t like the law you created, please change it. The facts are: Amazon has only been in the last few years. . “

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