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Biden blasts Amazon for not paying federal taxes, promises to ‘put an end to that’

April 1, 2021

Via: TechSpot

During an address in Pittsburgh, Pennsylvania, yesterday, Biden mentioned Amazon twice when unveiling his infrastructure spending plan, which increases the corporate tax rate to 28% from 21%. It also closes a popular loophole in the tax code that allows companies to move profits overseas.

Biden cited a 2019 report highlighting 91 Fortune 500 companies that use various loopholes to avoid paying any federal income tax in 2018, “including Amazon.”

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