A link tax only pays for so long as the tech giants remain dominant and continue to extract the massive profits that make them capable of paying the tax. But legislative action to fix the ad-tech markets, like #MikeLee's ad-tech breakup bill (cosponsored by both #TedCruz *and* #ElizabethWarren!) would shift power to publishers, and with it, money:
https://www.lee.senate.gov/2023/3/the-america-act
24/
With ad-tech intermediaries scooping up 50% or more of every advertising dollar, there is plenty of potential to save news without the need for a link tax. If unrigging the ad-tech market drops the platforms' share of advertising dollars to a more reasonable 10%, then the advertisers and publishers could split the remainder, with advertisers spending 20% less and publishers netting 20% *more*.
25/