Digital Ad Tax Funds Tutoring, Vocational Training, and Local News.
This Act imposes a new, high tax on the largest digital advertising service providers in the US with annual revenues exceeding $2.5 billion. The revenue generated is allocated to three trust funds supporting one-on-one tutoring for students, career and technical education, and local journalism preservation. Citizens benefit from increased educational resources for high-need schools and potential future support for local news outlets.
Key points
A 50% tax is imposed on digital advertising revenue for major tech companies (those exceeding $2.5 billion in revenue).
New funding is established for competitive grant programs providing individual tutoring to students in eligible Title I schools.
Revenue is dedicated to supporting vocational and technical education and future tax credits for local journalism and small business advertising.
Introduced
Additional Information
Print number: 119_HR_6335
Sponsor: Rep. Auchincloss, Jake [D-MA-4]