Live

Watch CBSN Live

Amazon.com supports a higher corporate tax rate, Jeff Bezos says in blog post

Biden defends infrastructure bill
Biden defends infrastructure bill 13:58

Amazon.com founder and CEO Jeff Bezos said he supports higher corporate taxes to fund the Biden administration's "bold investments in American infrastructure." 

In a blog post posted Tuesday, Bezos added that President Joe Biden's plan "will require concessions from all sides" on the specifics, but that he and his company are supportive of a higher tax rate for businesses. 

"We look forward to Congress and the Administration coming together to find the right, balanced solution that maintains or enhances U.S. competitiveness," Bezos said in the post. 

Bezos didn't elaborate on what tax rates he thinks are appropriate. The statement comes as the Biden administration is proposing an increase of the corporate tax rate to 28% from its current 21% to fund his $2 trillion American Jobs Plan

Last year, Amazon reported paying $1.8 billion in federal taxes, according to filings with the Securities and Exchange Commission. That's about 8% of the $22 billion profit the company booked in 2020. The company recently engaged in a Twitter spat with Senator Elizabeth Warren after the Massachusetts Democrat accused it of avoiding paying its fair share in taxes. 

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.