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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 -1% — 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.

Amazon spokesperson Jodi Seth said in a statement:

"Amazon pays all the taxes we are required to pay in the U.S. and every country where we operate, including paying $2.6 billion in corporate tax and reporting $3.4 billion in tax expense over the last three years. We have invested more than $160 billion in the U.S. since 2011, building a network of more than 125 fulfillment and sortation centers, air hubs and delivery stations as well as cloud-computing infrastructure and wind and solar farms."

Go deeper: An uncertain future for corporate tax breaks

Go deeper

30 mins ago - Politics & Policy

Vaccinations, relief timing dominate Sweet 16 call

Sen. Joe Manchin (D-W.V.) speaks during a news conference in December with a group of bipartisan lawmakers. Photo: Caroline Brehman/CQ-Roll Call, Inc via Getty Images

Vaccine distribution, pandemic data and a cross-party comity dominated today's virtual meeting between White House officials and a bipartisan group of 16 senators, Senator Angus King told Axios.

Why it matters: Given Democrats' razor-thin majority in both chambers of Congress, President Biden will have to rely heavily on this group of centrist lawmakers — dubbed the "Sweet 16" — to pass any substantial legislation.

Progressives pressure Schumer to end filibuster

Senate Majority Leader Chuck Schumer. Photo: Win McNamee / Getty Images

A progressive coalition is pressuring Chuck Schumer on his home turf by running a digital billboard in Times Square urging the new majority leader to end the Senate filibuster.

Why it matters: Schumer is up for re-election in 2o22 and could face a challenger, and he's also spearheading his party's broader effort to hold onto its narrow congressional majorities.

5 hours ago - Health

U.S. surpasses 25 million COVID cases

A mass COVID-19 vaccination site at Dodger Stadium on Jan. 22 in Los Angeles, California. Photo: Mario Tama/Getty Images

The U.S has confirmed more than 25 million coronavirus cases, per Johns Hopkins data updated on Sunday.

The big picture: President Biden has said he expects the country's death toll to exceed 500,000 people by next month, as the rate of deaths due to the virus continues to escalate.