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Standing by support of tax reform, FedEx Chairman and CEO Frederick W. Smith countered the New York Times’s claims in a November 21, 2019 Wall Street Journal op-ed.

“There is little doubt the significant increase in U.S. employment and wages since the tax cuts were passed is due to the decrease of corporate tax rates from 35% (which we used to pay) to 21%, which is competitive with the rest of the industrialized world. Over the past five years, we have paid more than $10 billion in U.S. taxes. After the temporary effect of capital expensing wears off, I expect FedEx will pay billions more into the U.S. Treasury from the earnings produced by our investments.

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

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With the above background in mind, I urge readers to review the New York Times’s disparaging story from Nov. 17 about FedEx’s involvement in corporate tax reform and see a great example of polemics: printing selected facts, connecting unrelated events, and implying nefarious activities when there were none whatever. FedEx takes great pride in being a good corporate citizen—here and abroad—at all times.”