The 7.25% tax on digital advertising aims to raise $500 million annually to support local news outlets, compensating for tech companies benefiting from their work.
California Chamber of Commerce criticizes the bill as a “job killer,” stating it will burden small businesses that rely on online advertising, potentially causing financial strain.
Support for the bill comes from various labor groups and struggling media outlets in need of funding for hiring journalists, while ensuring the government remains hands-off on news content decisions.
Google, already funding nonprofit local journalism, could potentially halt support for newsrooms if the bill passes, creating tension alongside opposition to an additional proposed link tax.
#tech-giants-taxation #local-news-funding #small-business-impact #googles-response #government-regulation
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