Patagonia, the outdoor clothing and gear company that has taken on President Donald Trump before, said this week that it will donate the $10 million it saved from recent tax cuts to environmental protection groups.
In a scathing note Wednesday, Patagonia CEO Rose Marcario called the GOP- and Trump-backed tax cuts “irresponsible” and decried past political responses to climate change as “woefully inadequate.”
“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,” Marcario wrote in the statement posted on LinkedIn.
Changes to the corporate tax rate went into effect in 2018, giving corporations a boost by dropping their tax rate from 35 percent to 21 percent.