Business World Divided Over U.S Corporate Tax Rate As Part Of Infrastructure Overhaul

The U.S. business community is trying to figure out how to address President Joe Biden’s $2 trillion infrastructure plan, which calls for higher corporate taxes to help pay for it.

Several prominent business groups, such as the U.S. Chamber of Commerce, oppose the proposed tax hikes. Behind the scenes, though, some companies are considering whether to put up much of a fight because of corporate America’s demand for an infrastructure overhaul,

Amazon.com Inc supports a hike in the U.S. corporate tax rate as part of an infrastructure overhaul, Jeff Bezos, chief executive of the largest U.S. retailer, said on Tuesday after facing withering criticism from the White House, Congress and on social media.

The largest online U.S. retailer, which has been widely criticized in recent years for paying little or no U.S. federal income tax, did not endorse raising rates to a specific figure.

The White House unveiled the plan Wednesday, and Biden discussed it in remarks in Pittsburgh later in the day. It calls for raising the corporate tax rate to 28% from 21%. “No one should be able to complain about that,” Biden said during his remarks when discussing any possible concerns with raising the corporate tax rates.