MSNBC’s O’Donnell: Republicans Forced Dems to ‘Abuse’ Reconciliation for Infrastructure

Pedestrians wearing face masks walk past a commercial advertisement billboard of the American multinational financial services corporation and credit card business American Express in Hong Kong

It's important to note, however, that some details are still going to have to be worked out with the parliamentarian, and it was not immediately clear whether it could be used to pass President Joe Biden's infrastructure plan.

Biden has proposed hiking the US corporate tax rate to 28% from 21% to help pay for his plan, an idea that Republican leaders are panning as harmful to economic growth.

Bezos' statement, posted on the company's website, was notable because it 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.

"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)", he wrote. In his statement, the Amazon boss didn't specifically endorse the infrastructure plan or its seven-percent tax hike.

Senate Finance Committee Chairman Ron Wyden (D-Ore.), one of the lead authors of the new framework (pdf), slammed the 2017 Republican tax law as a "massive giveaway" to large companies and said Congress must take action to "ensure mega-corporations pay their fair share to fund critical investments in the American people". It includes federal spending to improve the nation's aging roads, bridges, and ports; clean-energy projects; broadband in rural areas; affordable-housing initiatives; and funding for care workers.

Yellen Declares End to Trump's Global Retreat, Eyes Tax Deal
The Biden administration could, if needed, change its legislation to bring the USA minimum tax into line with the global plan. The average corporate income tax rate across 117 nations is 23.85%, according to the Tax Foundation , a think tank.

The package would be funded by a corporate-tax increase that would offset the cost over a period of 15 years - the tax rate for corporations would increase to 28%, up from 21%.

Amazon has always been accused of not paying its fair share in taxes during its rise to be one of the most valuable corporations in the US.

That has changed slightly in recent years as the Seattle company has become more profitable.

"Republicans set the GILTI rate at just half of the US corporate tax rate, creating a strong preference to earn income overseas", the three Democratic senators write in their proposal.

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