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CEOs like Jeff Bezos are grappling with new political realities

April 7, 2021. Summarized by summa-bot.

Compression ratio: 15.7%. 1 min read.

The political forces governing Washington have changed dramatically this year, with Democrats in control of both the White House and Congress. That's forcing some of the country's most powerful corporations to rethink their approach to contentious policy debates.

What's happening: Amazon (AMZN) CEO Jeff Bezos has announced that the company is "supportive of a rise in the corporate tax rate" as President Joe Biden pushes an ambitious infrastructure package.

It's a notable announcement — especially given that Amazon has been criticized for paying little or no income tax in recent years.

The company reported a US federal tax liability of $1. 8 billion in 2020, compared to net income for the year of $21. 3 billion.

Amazon's willingness to increase its tax burden comes as the company has been forced to play defense on a number of other fronts.

But executives are also navigating a tricky set of factors that could affect their business — making higher taxes just one bullet point on a long list of concerns.

The influential Business Roundtable has pledged to fight higher corporate taxes, which it claims will make US companies less competitive.

Topps has been a publicly-traded company several times throughout its many decades in business.

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