The Free & Fair Markets Initiative (FFMI) today released the following statement from Robert B. Engel, chief spokesperson for FFMI, following Amazon’s Q2 earnings report.
“Amazon’s earnings report begs the question: why does a company that made over $2 billion in profits this past quarter need state and local governments to subsidize their bottom line with over $1.5 billion in corporate welfare?”
“The fact is they are using their lobbying apparatus to cut prime deals with local governments for billions of dollars in taxpayer handouts that our local businesses don’t get and don’t benefit from. Rather, this money should be used to make our communities economic hubs for businesses of all sizes with improved roads, efficient mass transit systems, and better education.”
“Before giving this company another penny in tax giveaways, lawmakers need to seriously weigh whether it is worth subsidizing a company that continues to pocket billions while communities and taxpayers across America lose.”
ABOUT THE FREE AND FAIR MARKETS INITIATIVE
The Free & Fair Markets Initiative (FFMI) is a non-profit coalition of businesses, consumer advocacy groups, workers and community activists committed to scrutinizing and highlighting emerging market trends that are stifling competition and innovation, influencing federal and local government spending, putting consumer data in harm’s way and limiting consumer choice. For a list of members, please visit https://freeandfairmarketsinitiative.org/about-us/members/. For more information on the Free & Fair Markets Initiative, please visit https://freeandfairmarketsinitiative.org.
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