EU lawmakers target US Big Tech with budget-financing levy (euobserver.com)

• MEPs push for new tech-focused revenue stream for EU budget.
• Targets US Big Tech's significant European market profits.
• Alignment on fiscal autonomy and sovereign financing models.

"European Parliament negotiators, led by MEPs Siegfried Mureșan and Carla Tavares, are advancing proposals to impose a levy on large US technology firms to bolster the EU budget. The initiative stems from concerns regarding the scale of profits generated by non-European Big Tech within the single market, aiming to capture a greater share of tax revenue for infrastructure and development projects. This move marks a significant shift in EU fiscal strategy aimed at domestic budget resilience."