Congressional Republicans are working to extend tax breaks that have allowed dozens of major U.S. corporations—including Amazon, Google, and Verizon—to collectively save $67 billion since they were expanded in 2018, according to an analysis published late last week.

The Institute on Taxation and Economic Policy (ITEP) found that the Trump-GOP tax law’s “bonus depreciation” provisions, which allow companies to write off the full cost of equipment the same year it’s purchased rather than over time, helped 25 major U.S. companies pay “an effective federal corporate tax rate of just 12.2% since 2018—far below the statutory rate of 21%.”

“Some corporations have used accelerated depreciation to drive their effective tax rates down to single digits,” noted ITEP’s Steve Wamhoff, Matthew Gardner, and Spandan Marasini. “These include Verizon, Amazon, Walt Disney, Con Edison, General Motors, Dish Network, and others.”

Amazon received a […]