Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Europe announces new tax proposal targeting US tech companies

The European Union has looked skeptically on large American tech companies. Photo: Thierry Monasse/Corbis via Getty Images

The European Commission proposed a new tax Wednesday that stands to hit major web companies like Google and Facebook. The new 3% tax on revenue applies to certain online businesses, including digital ads and ride-hailing, but The Wall Street Journal reports that not every country that's a member of the E.U. is on board.

Why it matters: It's the latest move in Europe to crack down on powerful American tech giants.

What the EU is saying: In a press release, the EU says the measure is intended to ensure digital companies "contribute their fair share of tax" since current tax rules weren't designed to account for virtual companies with little or no physical presence within borders.

What US tech firms are saying: While acknowledging tax changes should be made to reflect today's digital economy, tech trade association Information Technology Industry Council says the move "harms business certainty in Europe and would chill trade and investment from companies across the globe."

Go deeper: The Financial Times breaks down the potential impact of the proposal.

Go deeper

Axios
Updated 28 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Communities of color are falling behind in America's vaccine effort.
  2. Politics: Hundreds of Biden staffers receive COVID vaccine — Axios-Ipsos poll: Trust in federal COVID-19 response surges.
  3. Business: Bankruptcy filings hit decade-high last year.
  4. World: U.K. surpasses 100,000 COVID-19 deaths — 44% of Israelis have already received at least one vaccine dose.
  5. Sports: Pandemic has cost the NCAA $600 million — CDC looks at lessons learned from NFL's testing and contact tracing.
Go deeper (1 min. read)Arrow
Dave Lawler, author of World
42 mins ago - World

Biden holds first phone call with Putin, raises Navalny arrest

Putin takes a call in 2017. Photo: Handout/Anadolu Agency/Getty

President Biden on Tuesday held his first call since taking office with Vladimir Putin, pressing the Russian president on the arrest of opposition leader Alexey Navalny and the Russia-linked hack on U.S. government agencies, AP reports.

The state of play: Biden also planned to raise arms control, bounties allegedly placed on U.S. troops in Afghanistan and the war in Ukraine, according to White House press secretary Jen Psaki, who said the call took place while she was delivering a press briefing. Psaki added that a full readout will be provided later Tuesday.

Go deeper (1 min. read)Arrow
Russell Contreras
2 hours ago - Politics & Policy

Biden signs racial equity executive orders

Joe Biden prays at Grace Lutheran Church in Kenosha, Wisconsin, on September 3, 2020, in the aftermath of the police shooting of Jacob Blake. PHOTO: Jim Watson/AFP via Getty Images

President Joe Biden on Tuesday signed executive orders on housing and ending the Justice Department's use of private prisons as part of what the White House is calling his “racial equity agenda.”

The big picture: Biden needs the support of Congress to push through police reform or new voting rights legislation. The executive orders serve as his down payment to immediately address systemic racism while he focuses on the pandemic.

Go deeper (1 min. read)Arrow