Jeff Bezos supports raising taxes on American companies

World

Published: 2021-04-07 10:33

Last Updated: 2021-10-25 12:41


Jeff Bezos supports raising taxes on American companies
Jeff Bezos supports raising taxes on American companies

Founder and CEO of Amazon Jeff Bezos said he supports raising taxes on US companies. This came after US President Joe Biden pushed to increase the corporate rate by seven percent, from 21 percent to 28 percent.

The president's plan would contribute to covering the cost of upgrading U.S. roads, ports, water pipes and the internet. During a speech, Biden mentioned Amazon as one of the companies that do not pay enough taxes.

Bezos issued a statement supporting Biden's 'focus on infrastructure' saying, "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)."

He continued saying "We look forward to Congress and the Administration coming together to find the right, balanced solution that maintains or enhances U.S. competitiveness."