Trending

Stories

Jeff Bezos Nods to Biden’s Infrastructure Plan, Tax Hike Proposal

Must Read

Amazon founder and CEO Jeff Bezos has endorsed US President Joe Biden’s infrastructure plan and even a hike in the corporate tax rate.

Last week, Biden unveiled an ambitious $2 trillion plan to overhaul the nation’s infrastructure and create jobs.

Also Read

It is to be financed through increased corporate taxes from 21 percent to 28 percent and hiking taxes on those making more than $400,000 a year.

“We support the Biden Administration’s focus on making bold investments in American infrastructure. Both Democrats and Republicans have supported infrastructure in the past, and it’s the right time to work together to make this happen,” Bezos said in a statement on Tuesday.

“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 said.

His statement gains significance because Biden while unveiling his infrastructure plan, singled out Amazon for not paying federal taxes.

Citing a 2019 analysis, the US President said Amazon was one of the 91 Fortune 500 companies that did not pay federal income tax in 2018.

“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 statement, posted on the company’s website.

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Related

- Advertisement -
- Advertisement -
Sony Unveils Project Q: A Next-Gen Handheld Game Console Snapchat Hits 200M+ Users in India, Introduces AI Chatbot Super Mario Bros. Movie: 6.4 Million Tickets Sold in Japan Samsung Galaxy A14 Launches in India with Impressive Features BGMI Returns: Battlegrounds Mobile India Now on Play Store Twitter Accuses Microsoft of Data Use Policy Violation GIFs take over Instagram comments, unleashing creative expressions! The First US State to Ban TikTok: Montana’s Bold Move Adobe Unveils New Product Line for Digital Marketing Advancements iPhone 15: Early Production and Design Changes for Improved Availability
Sony Unveils Project Q: A Next-Gen Handheld Game Console Snapchat Hits 200M+ Users in India, Introduces AI Chatbot Super Mario Bros. Movie: 6.4 Million Tickets Sold in Japan Samsung Galaxy A14 Launches in India with Impressive Features BGMI Returns: Battlegrounds Mobile India Now on Play Store Twitter Accuses Microsoft of Data Use Policy Violation GIFs take over Instagram comments, unleashing creative expressions! The First US State to Ban TikTok: Montana’s Bold Move