Bezos supports hiking US corporate tax

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The hiking of the corporate tax rate to help pay for Biden’s plan was an idea that Republican leaders are panning as harmful to economic growth, it was reported…reports Asian Lite News.

Amazon founder and CEO Jeff Bezos has announced support for President Joe Biden’s focus on building up the country’s infrastructure and said the company also supports a corporate tax rate hike from 21% to 28%, according to media report.

The statement by Bezos was posted on the company’s website.

This 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.

The hiking of the corporate tax rate to help pay for Biden’s plan was an idea that Republican leaders are panning as harmful to economic growth, it was reported.

The 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. 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 quoted in a news report.

US President Joe Biden

Meanwhile, Amazon has appointed Salesforce executive Adam Selipsky as new head of its Cloud computing arm Amazon Web Services (AWS).

Selipsky replaces long-time AWS executive Andy Jassy who will become Amazon CEO when founder Jeff Bezos steps down later this year.

“Selipsky brings strong judgment, customer obsession, team building, demand generation, and CEO experience to an already very strong AWS leadership team. And, having been in such a senior role at AWS for 11 years, he knows our culture and business well,” Jassy said in a statement late on Tuesday.

After spending 10 years at AWS, Selipsky ran the startup Tableau, which is now part of Salesforce which acquired it for $15.7 billion deal in 2019.

Jassy said that with a $51 billion revenue run rate that’s growing 28 per cent (on-year), it’s easy to forget that AWS is still in the very early stages of what’s possible.

“Less than 5 per cent of the global IT spend is in the cloud at this point. That’s going to substantially change in the coming years. We have a lot more to invent for customers, and we have a very strong leadership team and group of builders to go make it happen,” Jassy noted.

Selipsky will return to AWS on May 17.

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