Amazon’s CEO Jeff Bezos has stated that he supports tax raises for companies in the United States, following President Biden’s push to raise taxes for corporations.

“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 said.

“We look forward to Congress and the Administration coming together to find the right, balanced solution that maintains or enhances U.S. competitiveness,” he added.

Last week, US President Joe Biden called out tech giant Amazon for its failure to pay federal taxes. In an address in Pittsburgh, Biden delineated the importance of amplifying tax burdens on multinational companies.

The US president unveiled that Amazon was among the Fortune 500 companies that “use various loopholes where they pay not a single solitary penny in federal income tax.” Middle-class families pay a tax rate of over 30 per cent.

 “A fireman, a teacher paying 22% — Amazon and 90 other major corporations paying zero in federal taxes? I’m going to put an end to that,” he had said.

The story was filed by the News Desk.
The Desk can be reached at info@thecorrespondent.com.pk.

LEAVE A REPLY

Please enter your comment!
Please enter your name here