US President Donald Trump is preparing a counterpunch against the big tech industry by introducing sweeping tax measures. The move comes as part of his ongoing efforts to take on tech giants, particularly over concerns about their dominance in the market and impact on small businesses.
As a direct response to the recent scrutiny from lawmakers, Trump plans to unveil new legislation aimed at increasing taxes on large technology companies. This proposed tax reform is seen as an attempt to level the playing field for smaller competitors and push big tech firms to invest more in innovation.
The exact details of the proposed bill are not yet publicly available, but sources close to the administration suggest that it will include significant increases in taxes on corporate profits earned by large tech companies. The legislation aims to bring these companies under a similar tax regime as other industries, sparking concerns about increased regulatory oversight and potential job losses.
Trump’s move has been welcomed by some lawmakers who have long advocated for greater accountability from big tech giants. However, others warn that the new taxes could have unintended consequences on the industry’s ability to innovate and create jobs.
Source: https://www.axios.com/pro/tech-policy/2025/02/21/trump-readies-sweeping-big-tech-tax-counterpunch