Bezos expresses support for corporate tax hike

Amazon CEO Jeff Bezos says his company supports a US government plan to raise the corporate tax rate to build up the country's infrastructure.

Bezos released a statement on Tuesday on Amazon's website, saying "We support the Biden Administration's focus on making bold investments in American infrastructure." It adds that the firm recognizes that "this investment will require concessions from all sides."

US President Joe Biden has unveiled a plan to raise the corporate tax rate from the current 21 percent to 28 percent, to provide more than 2 trillion dollars for creating jobs through steps such as boosting the nation's infrastructure.

Observers say Bezos's statement is meant to deflect criticism about Amazon's alleged poor treatment of its employees.

Bezos was listed by Forbes magazine on Tuesday as the world's richest person for a fourth year in a row, thanks largely to Amazon's huge profits.

It's unusual for businesses to support a corporate tax rate hike. The backing of such a plan by a leading US company is likely to attract international attention.

US Treasury Secretary Janet Yellen suggested recently that countries should not compete to lower corporate taxes.