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The California state Senate has passed a bill that taxes tech giants like Amazon, Meta, and Google to support the struggling news industry.
California Senate Passes Landmark Bill
A groundbreaking bill has been passed by the California state Senate aiming to support the struggling news industry by taxing tech giants like Amazon, Meta, and Google. The bill will impose a “data extraction mitigation fee” on these companies and use the revenue to provide tax credits to news organizations that employ full-time journalists, according to the report of American Military News.
Protecting the Future of Journalism
Senator Steve Glazer (D-Orinda) emphasized the importance of this bill in safeguarding democracy and a free press. With a vote of 27-7, including support from one Republican senator and the bill is now one step closer to becoming law.
(photo: Los Angeles Times)
A Holistic Approach to Revitalizing Local News
This bill is part of a broader effort to revitalize the local news industry, which has struggled to adapt to changing consumer habits. Assembly Bill 886, another complementary measure, seeks to require digital platforms to compensate news outlets for advertising alongside news content.
Balancing Innovation and Regulation
Some critics argue that the bill may stifle innovation and harm small businesses. Senator Roger Niello (R-Fair Oaks) expressed concerns that technology is transforming industries and new models are emerging. However, proponents of the bill believe it’s necessary to support full-time journalists and preserve local news reporting.
Unions and Publishers Unite in Support
Unions representing journalists, online and nonprofit news outlets, and small newspaper publishers are all backing the bill. They argue that it’s essential to ensure the continued existence of quality local news reporting. The bill will now move on to the Assembly for further consideration.
