Amazon On Tuesday, April 6, online business firm Jeff Bezos said in a statement on Twitter that it supported US President Joe Biden’s proposal to increase corporate income taxes to fund the infrastructure project.
A few days after Biden complained that Amazon did not pay taxes on profits, Bezos noted: “We support increasing corporate (income) taxes.”
“We acknowledge that this investment will require concessions from all parties, including details of what’s included and how to repay it (we support raising the corporate tax rate).”
Jeff Bezos added: “We hope that Congress and the administration will work together to find the right and balanced solution that can maintain or improve the competitiveness of the United States.”
Amazon Paying less or less corporate tax has been the target of criticism for many years. The company has defended its policies by claiming that its investments are tax deductible as provided by the tax code.
Biden is proposing a $ 2 trillion infrastructure project funded in part by raising the corporate tax rate from 21% to 28% and restricting the use of tax havens.
Last month, the president quoted Fortune 500 companies as saying, “The world’s largest, including Amazon … do not pay a penny in federal income tax.”