London Daily

Focus on the big picture.
Sunday, Feb 22, 2026

Jeff Bezos comes out in support of increased corporate taxes

Jeff Bezos comes out in support of increased corporate taxes

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) CEO Jeff Bezos said 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.

In 2019, the then-former Vice President Joe Biden called out Amazon for its history of using tax credits and deductions to reduce its corporate income tax bill.

The company fired back, saying, "we pay every penny we owe," and that it had paid $2.6 billion in corporate taxes since 2016.

And again last year, then-Presidential candidate Biden said Amazon should "start paying their taxes," as part of a broader critique of large, successful businesses. Amazon has repeatedly said that it follows all applicable tax laws.

The company also recently sparred with Sen. Elizabeth Warren, who has advocated for raising taxes on big corporations. Last month Warren said in a tweet: "Giant corporations like Amazon report huge profits to their shareholders — but they exploit loopholes and tax havens to pay close to nothing in taxes. That's just not right."

Amazon responded to her, saying: "You make the tax laws @SenWarren; we just follow them. If you don't like the laws you've created, by all means, change them. Here are the facts: Amazon has paid billions of dollars in corporate taxes over the past few years alone."

For the 2017 and 2018 tax years, Amazon's financial filings showed that it expected to receive money back from the federal government, not that it owed money in income tax. For the 2019 tax year, Amazon said it owed more than $1 billion in federal income tax.

In 2020, Amazon paid $1.7 billion in federal taxes, the company said in its response to Warren. Its net income for the year was $21.3 billion.

While it has already drawn some criticism, the Biden administration's infrastructure plan may be compelling enough to convince more corporate leaders to sign on in support of hiking business taxes.

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

And he's not alone. Rick Rieder, chief investment officer of global fixed income for BlackRock, the world's largest asset manager, said rolling back Trump-era corporate tax cuts won't hurt the economy — and could actually be positive for growth.

Rieder told CNN Business last month that he thinks the US economy can "definitely" withstand higher corporate taxes, and suggested that raising the corporate rate could help ensure that economic gains are distributed more evenly among corporations and workers.

"The US economy is amazingly resilient," he said, "and in fact will perform well when you get some of this income redistribution and consumption at an easier and a better place, particularly for lower and middle income."
Newsletter

Related Articles

0:00
0:00
Close
UK Government Weighs Removing Prince Andrew from Line of Succession After Arrest
Prince Andrew’s Arrest in UK Rekindles Scrutiny Over US Handling of Epstein Records
Trump’s Strategic Warning to UK Over Chagos Islands Deal Sparks Diplomatic Whiplash
Starmer Government Postpones Local Elections Affecting 4.5 Million Voters
UK Economy Remains Fragile Despite Recent Upturn in Headline Indicators
UK Businesses Face Fresh Uncertainty Following US Tariff Ruling
Reform UK’s Senior Figures Face Scrutiny Over Remarks on Women and Family Policy
UK Electric Vehicle Drive Threatened by Shortage of 44,000 Qualified Technicians
University of Kentucky Trustees Advance Academic Reforms and Approve Coliseum Plaza Purchase
Boris Johnson Calls for Immediate Deployment of UK Troops to Support Ukraine
OpenAI CEO Sam Altman praises the rapid progress of Chinese tech companies.
North Korea's capital experiences a significant construction boom with the development of a new city district dubbed 'Pyonghattan'.
New electric vehicle charging service eliminates waiting times
Vox Populi confronts Justin Trudeau at Davos over vaccination policies
Poland's President Karol Nawrocki ENDS support for Ukrainian citizens:
The mayor of Rotherham in Britain
One day after ex-Prince Andrew's arrest, British police are searching his former home, while U.K. lawmakers will consider introducing legislation to remove him from the line of royal succession
Vandana Shiva reminding the world that Bill Gates did not invent anything.
Italy's PM Giorgia Meloni highlights record employment and economic growth
UK Confirms Preferential U.S. Trading Terms Will Continue After Supreme Court Tariff Ruling
U.S. and U.K. to Hold Talks on Diego Garcia as Iran Objects to Potential Military Use
UK Officials Weigh Possible Changes to Prince Andrew’s Position in Line of Succession Amid Ongoing Scrutiny
British Police Probe Epstein’s UK Airport Links and Expand High-Profile Inquiries
The Impact of U.S. Sanctions on Cuba's Humanitarian Crisis: A Tightening Noose
Trump Directs Government to Release UFO and Alien Information
Trump Signs Global 10% Tariffs on Imports
United Kingdom Denies U.S. Access to Military Base for Potential Iran Strike
British Co-founder of ASOS falls to his death from Pattaya apartment
Early 2026 Data Suggests Tentative Recovery for UK Businesses and Households
UK Introduces Digital-First Passport Rules for Dual Citizens in Border Control Overhaul
Unable to Access Live Financial Data for January UK Surplus Report
UK Government Considers Law to Remove Prince Andrew from Royal Line of Succession
UK ‘Working Closely with US’ to Assess Impact of Supreme Court Tariff Ruling
Trump Criticises UK Decision to Restrict Use of Bases in Potential Iran Strike Scenario
UK Foreign Secretary and U.S. State Chief Hold Strategic Talks as Tensions Rise Over Joint Air Base
Two teens arrested in France for alleged terror plot.
Nordic Fracture: How Criminal Scandals and Toxic Ties are Dismantling the Norwegian Crown
US Supreme Court Voids Trump’s Emergency Tariff Plan, Reshaping Trade Power and Fiscal Risk
King Charles III Opens London Fashion Week as Royal Family Faces Fresh Scrutiny
Trump’s Evolving Stance on UK Chagos Islands Deal Draws Renewed Scrutiny
House Democrat Says Former UK Ambassador Unable to Testify in Congressional Epstein Inquiry
No Record of Prince Andrew Arrest in UK as Claims Circulate Online
UK Has Not Granted US Approval to Launch Iran Strikes from RAF Bases, Government Confirms
AI Pricing Pressure Mounts as Chinese Models Undercut US Rivals and Margin Risks Grow
Global Counsel, Advisory Firm Co-Founded by Lord Mandelson, Enters Administration After Client Exodus
London High Court dispute over Ricardo Salinas’s $400mn Elektra share-backed bitcoin loan
UK Intensifies Efforts to Secure Saudi Investment in Next-Generation Fighter Jet Programme
Former Student Files Civil Claim Against UK Authorities After Rape Charges Against Peers Are Dropped
Archer Aviation Chooses Bristol for New UK Engineering Hub to Drive Electric Air Taxi Expansion
UK Sees Surge in Medical Device Testing as Government Pushes Global Competitiveness
×