Amazon backs Biden on tax hike

8 April, 2021 12:00 AM printer

WASHINGTON: Amazon said on Tuesday it supports President Joe Biden’s proposal for a corporate tax increase to fund infrastructure improvements, saying it should be part of a “balanced solution that maintains or enhances US competitiveness.”

Chief executive Jeff Bezos made the comment in a statement days after Mr Biden singled out the US technology and e-commerce giant for avoiding income taxes as he proposed to boost the corporate tax rate to 28 per cent, report agencies.

“We support the Biden administration’s focus on making bold investments in American infrastructure,” Mr Bezos said.

“We recognise 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).”

Mr Bezos added, “We look forward to Congress and the administration coming together to find the right, balanced solution that maintains or enhances US competitiveness.”