Democrats take advantage of a report published by The New York Times on Sunday stating that FedEx is not liable for taxes during fiscal year 2018, one year after President Trump Donald John TrumpGOP divided over impeachment trial strategy Official testifies that Bolton had "one-on-one meeting" with Trump over Ukraine's help Louisiana governor wins reelection MER signed on a $ 1
The Times also found that the company, which had a tax rate of more than $ 1.6 billion during fiscal 2017, reportedly saved at least $ 1.6 billion thanks to tax-reduced packages.
The news was met with a backlash from several Democrats in Congress, including Sens. Bernie Sanders Bernie SandersSinger Neil Young says US presidents have not done enough to address climate change New vote catapults Buttigieg to frontrunner position in Iowa Growing 2020 field underscores the democratic divide MORE (I- Vt.) And Elizabeth Warren Elizabeth Ann WarrenNew poll catapults Buttigieg to front runner position in Iowa Bloomberg, Patrick take different approach after late entry into primary race Deval Patrick: a short lane but potential to get airborne MORE  (D-Mass.), Both Democratic presidential contenders 2020, as well as late. Jeff Merkley Jeffrey (Jeff) Alan MerkleyOvernight Energy: Perry Replacers Meet Ukraine's Questions at the Hearing | That president demands answers about the land company move | Ocasio-Cortez, Sanders Reveals 0B Green New Deal Plan for Public Housing Ocasio-Cortez, Sanders Reveals 0B Green New Deal Plan for Public Housing The Senate Committee prescribes budget reform plan MER (D-Ore.).
Where did the money come from Trump's "middle-class tax cuts"? To wealthy companies that have spent $ 1 trillion to repurchase their own shares to enrich executives and wealthy shareholders. It is not acceptable. https://t.co/tfHGRE1Dq7ebrit19459010??— Bernie Sanders (@SenSanders) November 17, 2019
You probably pay more in federal income taxes than a bunch of big American companies making billions of dollars. It's obscene. These companies love waving the American flag, but they will not step in to support the investments we make. https://t.co/6uj7ZlCt6xebrit19459010??— Elizabeth Warren (@ewarren) November 17, 2019
A reminder that all Trump and Senate Republicans tried to sell you if their "tax plan" was a lie. It is not intended to help you. It never was.https: //t.co/d9C5AsjgIe
– Senator Jeff Merkley (@SenJeffMerkley) November 17, 2019
Let's talk about this. (thread)
In 2017, Americans were promised by large corporations that if we lowered their taxes, they would invest them.
In the century of interest, it turns out that they began to receive the money instead. So yeah, they were lying.https: //t.co/UhyI1SOcHa
– Rep. Katie Porter (@RepKatiePorter) November 17, 2019
The Times' results also led to viral criticism and reactions from a number of social media users.
As a result, FedEx paid zero taxes last year, but guess what? The promised "renaissance for capital investment" never happened. The Trump Republican tax cut was a $ 2 trillion bill on the American public, and cases for FedEx and all other major corporations. https://t.co/Y0xl33xfNGebrit19459010??— Robert Reich (@RBReich) November 17, 2019
Trump's tax cut has been a big flop – huge giveaways to businesses, no visible increase in investment. So the critics were right, and the supporters were wrong 1 / https://t.co/HyhDpIR5NE Chapter19459010 ?? – Paul Krugman (@paulkrugman) November 17, 2019
This is the fodder for a devastating set of ads about how Trump ran as a "populist" but ruled as a plutocrat https://t.co/cVmU90n5Kkebrit19459010??— Dan Pfeiffer (@danpfeiffer) November 17, 2019
Before 2017, the tax cut went, FedEx CEO and founder Frederick Smith said : "If you make the US a better place to invest, there is no question in my mind that we would see a renaissance of capital investment."
But in the midst of its gains after the bill passed, The Times reports FedEx capital investment has decreased during fiscal years 2018 and 2019.
The company withdrew from The Times report, but with a spokesman who told paper that FedEx "invested billions in capital assets that were eligible for accelerated depreciation and made major contributions to our employee pension plans. "
" These factors have temporarily lowered our federal income tax, which was the law's intent to help grow GDP, create jobs and increase wages, " allowed the representative.
FedEx is reportedly one of dozens of the top US companies that saw its tax rates fall to less than or equal to zero after the 2017 tax law was passed.