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Standing by support of taxreform, FedEx Chairman and CEO Frederick W. Smith countered the NewYork Times’s claims in a November 21, 2019 Wall Street Journalop-ed.

“There is little doubt thesignificant increase in U.S. employment and wages since the taxcuts were passed is due to the decrease of corporate tax rates from35% (which we used to pay) to 21%, which is competitive with therest of the industrialized world. Over the past five years, we havepaid more than $10 billion in U.S. taxes. After the temporaryeffect of capital expensing wears off, I expect FedEx will paybillions more into the U.S. Treasury from the earnings produced byour investments.

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The recent slowdown in U.S.companies’ capital expenditures is, in my opinion, due to tradedisputes and the attendant global slowdown. We believe re-embracingTPP and TTIP and passing the new U.S.-Mexico-Canada trade agreementwould reverse these trends in short order.

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With the above background inmind, I urge readers to review the New York Times’s disparagingstory from Nov. 17 about FedEx’s involvement in corporate taxreform and see a great example of polemics: printing selectedfacts, connecting unrelated events, and implying nefariousactivities when there were none whatever. FedEx takes great pridein being a good corporate citizen—here and abroad—at alltimes.”