Tax on Digital Advertising Services
Official: Education Not Endless Scrolling Act
The Education Not Endless Scrolling Act creates a tax on large digital advertising companies to support local journalism. It aims to balance the digital advertising landscape while funding important news sources.
1. This bill imposes a 50% tax on companies making over $2.5 billion from digital advertising in the U.S. 2. The tax applies to businesses that host digital advertisements, like websites and apps. 3. One-third of the tax collected will go to a fund for local journalism. 4. The fund will support hiring journalists and advertising in local news outlets. 5. The bill aims to promote local journalism and reduce excessive digital advertising.
Large digital advertising companies and local journalism entities will be directly impacted by this bill.