{"id":454049,"date":"2026-02-07T07:22:13","date_gmt":"2026-02-07T07:22:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/454049\/"},"modified":"2026-02-07T07:22:13","modified_gmt":"2026-02-07T07:22:13","slug":"trump-gop-law-slashes-amazons-tax-bill-by-87-as-company-fires-30000-workers-profits-soar","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/454049\/","title":{"rendered":"Trump-GOP Law Slashes Amazon’s Tax Bill by 87% as Company Fires 30,000 Workers, Profits Soar"},"content":{"rendered":"

The tax law that congressional Republicans<\/a> and US President Donald Trump<\/a> enacted last summer has proved to be a massive boon for Amazon, slashing the corporate behemoth’s 2025 tax bill even as its profits surged and it moved ahead with mass layoffs that have cost 30,000 workers<\/a> their jobs since October.<\/p>\n

Citing a new securities filing, the Wall Street<\/a> Journal reported<\/a> Friday that Amazon’s “current US taxes, an accounting measure of taxes incurred last year, declined to $1.2 billion from $9 billion” while the company’s “pretax US profit increased by 44.5%, to $89.5 billion. On a cash basis, the company paid $2.8 billion in federal income taxes last year after paying more than $7 billion in each of the prior two years.”<\/p>\n

The 87% decline in Amazon’s federal tax bill for 2025 was largely attributable to the One Big Beautiful Bill Act’s corporate-friendly depreciation tax breaks.<\/a><\/p>\n

The new securities filing comes just days after Amazon confirmed it axed 16,000 corporate jobs as part of what’s believed to be a sweeping effort<\/a> to replace workers with robots and artificial intelligence<\/a> models in the coming years.<\/p>\n

The Roosevelt Institute, a progressive think tank, noted<\/a> that the tax benefits that Amazon and other giant corporations are raking in “didn’t come free.”<\/p>\n

“The same law slashed Medicaid<\/a> and the [Affordable Care Act<\/a>] and is now exacerbating our medical debt crisis,” the organization wrote on social media<\/a>. “Congress made a choice: cut assistance for the most vulnerable to double down on a tax code already favoring dominant firms.”<\/p>\n

In a statement<\/a> on Friday, Amazon\u2014founded by billionaire Jeff Bezos\u2014said its dramatically lower tax bill “reflects… changes by Congress” purportedly aimed at encouraging “greater investment in the American economy, its innovation, and its workers.”<\/p>\n

The Institute on Taxation<\/a> and Economic Policy (ITEP) noted<\/a> Friday that Amazon is one of four companies that “have now disclosed that they collectively received $51 billion in federal tax breaks in 2025, much of that likely from the so-called One Big Beautiful Bill Act (OBBBA) that was signed into law by Trump over the summer.”<\/p>\n

“The annual financial reports recently released by Amazon, Alphabet, Meta, and Tesla<\/a> disclose that these corporations collectively reported $315 billion in US profits for 2025, and collectively paid just 4.9% of that amount in federal corporate income taxes\u2014with Tesla paying exactly zero<\/a>,” wrote ITEP’s Matthew Gardner. “That amounts to a collective tax savings of $51 billion last year for these four giant multinational corporations, versus what they would have paid if they paid the full 21% federal corporate income tax rate.”<\/p>\n

” Tax cuts<\/a> pushed through by the Trump administration<\/a> last year and in 2017 have made it possible for the fastest-growing companies in the world to pay record-low federal income tax rates on their income,” Gardner added. “The tax avoidance of these four companies alone blew a $51 billion hole in the federal budget<\/a> last year, and this is likely just the tip of the iceberg.”<\/p>\n","protected":false},"excerpt":{"rendered":"The tax law that congressional Republicans and US President Donald Trump enacted last summer has proved to be…\n","protected":false},"author":2,"featured_media":454050,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[960,28,74847,12,25249,34658,45788],"class_list":["post-454049","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-amazon","tag-business","tag-corporate-power","tag-donald-trump","tag-republican-party","tag-tax-cuts","tag-taxation"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/454049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=454049"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/454049\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/454050"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=454049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=454049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=454049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}