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House Tax Cuts Favor Billionaires, Cost Taxpayers $6.2B

5/24/2025

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Summary

Story summary

The House approved a bill that provides tax cuts for large corporations and billionaires, including Amazon.
Jeff Bezos gains from reduced capital gains tax rates, resulting in a $6.2 billion cost to taxpayers.
Over the last four years, Amazon's effective tax rate was only 5%, while median worker pay increased by just 3.3%.
Amazon allocates resources to anti-union initiatives and technologies for surveillance and immigration enforcement.

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Story summary

The House approved a bill that provides tax cuts for large corporations and billionaires, including Amazon.
Jeff Bezos gains from reduced capital gains tax rates, resulting in a $6.2 billion cost to taxpayers.
Over the last four years, Amazon's effective tax rate was only 5%, while median worker pay increased by just 3.3%.
Amazon allocates resources to anti-union initiatives and technologies for surveillance and immigration enforcement.