A fight over taxing digital advertising that has been playing out in statehouses is moving to Capitol Hill, where a new proposal would impose a federal tax of as much as 50% on advertising revenue generated by the largest algorithm-driven social media platforms.
Sen. Chris Murphy (D-CT) introduced the “In Real Life Act,” or IRL Act, Thursday, proposing a graduated federal excise tax on algorithmic digital advertising. Unlike some of the broader digital advertising taxes considered by states, the proposal specifically targets social media platforms that use personalized recommendation systems — while leaving traditional media companies and other online publishers outside the tax.
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