In a statement released Tuesday, Amazon CEO Jeff Bezos came out in support of President Joe Biden’s proposed infrastructure plan, even though the package would significantly raise the corporate tax rate.
"We support the Biden Administration’s focus on making bold investments in American infrastructure. Both Democrats and Republicans have supported infrastructure in the past, and it’s the right time to work together to make this happen,” Bezos wrote.
Bezos went beyond just delivering support for Biden’s plan — he specifically endorsed the White House’s proposed increase to the corporate tax rate to pay for the package.
“We recognize this investment will require concessions from all sides—both on the specifics of what’s included as well as how it gets paid for (we’re supportive of a rise in the corporate tax rate),” Bezos wrote. “We look forward to Congress and the Administration coming together to find the right, balanced solution that maintains or enhances U.S. competitiveness."
Bezos did not specify which corporate tax rates should be raised, or how high they should be raised.
Earlier this month, Biden unveiled a sweeping $2 trillion infrastructure package that would upgrade America’s aging roads, bridges and airports, as well as make improvements to public transportation and rail systems. The bill would also address care for elderly Americans and affordable housing.
To pay for the package, Biden has proposed hiking the corporate tax rate to 28%. The current federal corporate tax rate is 21%, which was set by President Donald Trump when it was lowered from 35% as part of his 2017 tax cuts.
Bezos’ support for an increase corporate taxes comes after years of criticism from lawmakers and activists who claim Amazon has not paid enough in taxes.
In 2019, Biden called out Amazon for attempting to evade paying more in taxes, prompting an angry rebuke from the company.
The company also sparred publicly with Sen. Elizabeth Warren, D-Massachusetts, who accused the company of exploiting loopholes and tax havens.
A combative Amazon quickly replied.
"You make the tax laws @SenWarren; we just follow them. If you don't like the laws you've created, by all means, change them. Here are the facts: Amazon has paid billions of dollars in corporate taxes over the past few years alone."
1/3 You make the tax laws @SenWarren; we just follow them. If you don’t like the laws you’ve created, by all means, change them. Here are the facts: Amazon has paid billions of dollars in corporate taxes over the past few years alone.— Amazon News (@amazonnews) March 26, 2021