Jeff Bezos comes out in support of increased corporate taxes
April 07, 2021 at 14:50
New York (CNN Busienss) As the White House considers raising taxes on corporations for the first time in more than 25 years, the head of one of America's largest companies is backing such a plan.
Amazon AMZN said in a CEO Jeff Bezossaid in a statement Tuesday that the company is "supportive of a rise in the corporate tax rate."
"We support the Biden Administration's focus on making bold investments in American infrastructure," Bezos said.
"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 how it gets paid for."
The White House is laying the groundwork for lifting the corporate tax rate above its current level of 21% to help pay for an ambitious infrastructure package .
Bezos' statement is a notable show of approval for the move given that many others in the business community have warned that it could threaten recovery from the pandemic.
The outgoing Amazon chief executive is, in some ways, a surprising advocate for a corporate tax hike.