Bezos endorses higher corporate taxes for infrastructure
WASHINGTON — Amazon founder and CEO Jeff Bezos endorsed President Joe Biden’s focus on building up the country’s infrastructure Tuesday and said the company even supports a corporate tax rate hike to help pay for it.
Bezos’ statement, posted on the company’s website, was notable because it came after
Biden singled out the company for criticism about how much it pays in federal taxes when he recently unveiled his $2.3 trillion infrastructure proposal.
Biden has proposed hiking the U.S. corporate tax rate to 28% from 21% to help pay for his plan, an idea that Republican leaders are panning as harmful to economic growth. Democrats will surely cite support from individual companies to undercut that argument.
“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 wrote. “We look forward to Congress and the Administration coming together to find the right, balanced solution that maintains or enhances U.S. competitiveness.”
Bezos was careful not to endorse a specific plan. Rather, he said “we support the Biden Administration’s focus on making bold investments in American infrastructure.”
‘Quite stupid’ for businesses to complain about Ga. law, McConnell says
WASHINGTON — Senate Republican leader Mitch McConnell said Tuesday it’s “quite stupid” for corporations to speak out against the Georgia voting law, intensifying his warnings for big business to stand down.
Speaking in Kentucky, the GOP leader said companies still can participate in the political process and give freely to political campaigns. But as lawmakers wrestle with big issues, he warned CEOs off the kinds of public statements made by Delta Air Lines, Coca-Cola and Major League Baseball in opposition to Georgia’s new restrictive voting law.
“It’s quite stupid to jump in the middle of a highly controversial issue,” he told reporters.
“Republicans drink Coca-Cola too, and we fly and we like baseball,” he said. “It’s irritating one hell of a lot of Republican fans.”