Amazon Backs Biden Tax Hike Plan After Years of Avoiding Federal Income Taxes

Amazon Backs Biden Tax Hike Plan After Years of Avoiding Federal Income Taxes


Billionaire Jeff Bezos, CEO of multinational corporation Amazon, is endorsing President Joe Biden’s plan to hike the corporate tax rate after years of avoiding federal income taxes.

This week, Biden released the details of his tax hike plan that includes raising the corporate tax rate from 21 percent to 28 percent.

In response, Bezos — who has boosted his wealth by more than 60 percent since March 2020 — said he supports the tax hike, though Amazon has a history of avoiding billions in federal income taxes.

“We support the Biden Administration’s focus on making bold investments in American infrastructure,” Bezos wrote in a statement:

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Both Democrats and Republicans have supported infrastructure in the past, and it’s the right time to work together to make this happen. We recognize this investment will require concessions from all sides — both on the specifics of what’s included as well as

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