April 7, 2021

Wall Street Journal: Jeff Bezos Backs Corporate Tax-Rate Increase and Infrastructure Plan

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Amazon has taken advantage of policies allowing companies to reduce their tax liability through research spending or investment in renewable energy. The company reported $1.8 billion in U.S. tax liability for 2020 after years of paying far less or even reporting a negative tax liability. It said a bump in pretax income in 2020 led to the rise. Amazon had an effective income-tax rate of 9.4% for 2020, less than half the statutory corporate tax rate of 21%, according to the progressive think tank Institute on Taxation and Economic Policy.

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