The New York Times accused FedEx on Sunday of essentially having lobbied President Donald Trump to sign tax cuts into law with the promise of businesses using the saved money to reinvest in and further grow their companies, and then failing to invest the billions of dollars that it reportedly saved as a result of the tax cuts.
“In the 2017 fiscal year, FedEx owed more than $1.5 billion in taxes. The next year, it owed nothing. What changed was the Trump administration’s tax cut – for which the company had lobbied hard,” The New York Times reported on Sunday. “The public face of its lobbying effort, which included a tax proposal of its own, was FedEx’s founder and chief executive, Frederick Smith, who repeatedly took to the airwaves to champion the power of tax cuts.”
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