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Senators Introduce Bill To Boost Local News Outlets Through Tax Credits
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deadline.comA group of Senate lawmakers introduced a bill to try to boost local news outlets, reflecting the ongoing concern in Congress over the struggle and, in many cases, demise of newspaper, digital, TV and radio outlets.The Local Journalism Sustainability Act would provide subscribers with tax credits of up to $250 annually to cover a portion of subscription costs.
It will cover 80% of the subscription costs in the first year and 50% in the next four years.Another credit would provide the news outlets with up to $25,000 to defray employment taxes in the first year, and $15,000 in the next four years, for each employee.
That would cover 50% of compensation up to $50,000 in the first year and 30% in the next four years. Journalists would have to
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