The California Senate’s top tax-writing panel will hold its first hearing this week on legislation that would impose a tax on the data major internet platforms extract from their users in a bid to save local media outlets.
The bill, introduced by committee chairman Steve Glazer (D) last week, would create a new Data Extraction Mitigation Fee for tech platforms that generate more than $2.5 billion in revenue each year. The fee would be based on the value those online platforms derive from the personal and economic data shared by their users, a system Glazer compared to mitigation fees imposed on chemical companies that damage the environment.
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