This is a good thing overall, but it only half addresses the issue. Now journal fees to authors will simply go up to cover the difference, making it harder for researchers without lots of grant funding to publish (journals can now be over $6000 per article), and even more tax payer dollars will be going towards paying these fees for those researchers funded by gov grants (money that could be better spent funding stud…
Specifically, online academic publishing is, at its core, indexing and hosting pdf files. It is some work to do a good job. But it's also quite achievable to re-create the same service without asking for much, if anything, from authors. Given a little funding, every field could use arxiv or their version of arxiv (which is free to publish on). The bottleneck to a large-scale change is the self-sustaining prestige of a paid journal's badge.
As a first step, we can spread awareness among authors of how crazy it is to pay so much to publish.