Never miss an Axios exclusive. Sign up for Mike Allen's AM newsletter.

Top Stories

Amazon paid $0 in federal income tax in 2018, despite record profits

Protestor carries a sign saying no handouts for amazon
Activists and community members protest Amazon's plan to move into Queens. Photo: Drew Angerer/Getty Images

Despite doubling its profits in 2018, Amazon did not pay a cent of federal income tax for the second consecutive year, according to an analysis by the Institute on Taxation and Economic Policy.

The big picture: Amazon actually received a rebate of $129 million — or an effective tax rate of negative 1 percent — thanks to tax credits and other breaks stemming from the GOP's 2017 tax cuts. The Washington Post's Chris Ingraham notes that while Amazon earned $11.2 billion in profit last year, it was able to pay a lower federal tax rate (1.5% in 2015) than the bottom 20% of American households.

House Democrats take steps to obtain notes from Trump-Putin meetings

Trump winking at Putin
Donald Trump sits opposite Russian President Vladimir Putin during lunch at the Elysee Palace in Paris. Photo: Guido Bergmann/Bundesregierung via Getty Images

House Intelligence Chairman Adam Schiff (D-Calif.) and Foreign Affairs Chairman Eliot Engel (D-N.Y.) have met with the House general counsel to discuss legal options for finding out the contents of President Trump's one-on-one meetings with Russian President Vladimir Putin, Politico reports.

Why it matters: The Washington Post reported last month that Trump has repeatedly sought to conceal the details of his face-to-face conversations with Putin from senior officials in his own administration — even going as far as to confiscate notes from his own interpreter and instruct them not to discuss the contents of the conversation. The meetings will be one of many investigative priorities for House Democrats, who were blocked by Republicans in their attempts to subpoena Trump's interpreter while in the minority.

More stories loading.