Arab Press

بالشعب و للشعب
Friday, Sep 05, 2025

Bezos called for higher taxes, even as Amazon lobbied to keep rates low, report says

Bezos called for higher taxes, even as Amazon lobbied to keep rates low, report says

Jeff Bezos, the richest man in the world, publicly endorsed President Biden's plan to dramatically raise taxes on wealthy Americans and corporations, even as Amazon lobbied behind the scenes to preserve a tax loophole that's allowed it to reduce its liability, according to a new report.
The e-commerce behemoth's founder and CEO in April announced that he supported Biden's proposal to raise the corporate tax rate to 28% from 21% in order to fund a sweeping infrastructure overhaul – a notable statement after the president singled out Bezos for how little Amazon pays in federal taxes.

"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 in a statement posted on the company's website. "We look forward to Congress and the Administration coming together to find the right, balanced solution that maintains or enhances U.S. competitiveness."

But in private, Amazon has been making moves to keep its tax bill low, according to a new report published Thursday by Politico – highlighting the difficulties that Biden may face in ensuring the tax measure becomes law.

In June, Amazon hired the tax lobbyist Joshua Odintz, a former Democratic congressional aide and alumnus of the Obama administration, to lobby on the section of the tax code dealing with the research and development tax deduction, according to a disclosure filing cited by the outlet.

And the R&D Coalition — a coalition of companies that benefit from the deduction including Amazon, Intel, the National Association of Manufacturers and others — hired a slew of veteran tax lobbyists at PricewaterhouseCoopers earlier this year, Politico reported. Among the individual hired is a former top aide to Senate Minority Leader Mitch McConnell.

Under current policy, businesses can choose to fully expense the costs of research and development, meaning they can deduct R&D costs from their taxable income, according to the Tax Foundation. The R&D tax credit, first established in 1981, has broad bipartisan support among lawmakers.

It's unclear how much money Amazon has saved with the R&D tax credit, but in a regulatory filing with the Securities and Exchange Commission earlier this year, the company said the tax credits helped reduce its U.S. tax burden "were primarily related to the U.S. federal research and development credit."

Of course, Amazon benefits from other tax laws, including one that allows it to deduct the cost of the stock it gives employees as part of their pay packages.

Biden has not targeted the R&D tax credit as part of his roughly $4 trillion spending plan. But Politico reported that the credit could become less valuable next year if Congress doesn't act, because Republicans 2017 tax law included a provision that would prevent companies from immediately deducting the full amount of R&D expenses in 2022.

Companies would instead have to deduct a portion of it every year over the next five years.

The Tax Foundation estimated that repealing the changes would cost about $131 billion over a decade but would boost GDP by 0.1%.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
×