Republicans' new plan to tax Big Tech

Key Republicans are warming to an idea that was once anathema to the party—leveling taxes on big American companies to pay for internet subsidy programs. An idea from GOP Federal Communications Commissioner Brendan Carr to force tech companies to pay into a pool of money used to fund broadband programs is gaining steam with some key lawmakers, including GOP Minority Leader Kevin McCarthy. Republican support of taxing Big Tech could help shore up the struggling Universal Service Fund; Commissioner Carr argues that Congress should direct the companies that benefit from using internet networks to pay into the subsidy fund along with broadband providers. The interest in taxing Big Tech coincides with some GOP support for antitrust bills that would prevent the companies from buying up smaller rivals or favoring their own products. Acting FCC Chairwoman Jessica Rosenworcel called Carr's idea "intriguing" but stated it was clear that such a shift would require firm Congressional action. And though Republicans seem interested, that's a long way from advancing legislation.