Outdoor retailer Patagonia announced that they saved millions from Donald Trump’s corporate tax cuts this year and claimed that it was “irreponsible” for a multimillion dollar company to get such heavy tax cuts. They announced that the company will be donating the money they saved to environmental groups.
“Based on last year’s irresponsible tax cut, Patagonia will owe less in taxes this year — $10 million less, in fact,” CEO Rose Marcario wrote in a LinkedIn post Wednesday afternoon. “Instead of putting the money back into our business, we’re responding by putting $10 million back into the planet. Our home planet needs it more than we do.”
“Taxes protect the most vulnerable in our society, our public lands and other life-giving resources,” she continued. “In spite of this, the Trump administration initiated a corporate tax cut, threatening these services at the expense of our planet.”
The company is known for donating for the environment. Marcario said that the donation will be made on top of the company’s ongoing “1% for the Planet” campaign, which gives 1 percent of the company’s sales to the environment’s preservation and restoration.
“It will go a long way toward funding grassroots groups; including those dedicated to regenerative organic agriculture, which may be our greatest hope for reversing the damage done to our overheated planet,” she said.