Last week, another bill was introduced in both the House and the Senate with the intention of supporting local media to help offset the erosion of their advertising base by digital media. The Local Journalism Sustainability Act (text of House bill here, and summary of Senate bill here) proposes certain benefits for local newspaper subscribers, as well as benefits to advertisers who advertise on local media – both broadcast and print. For newspaper subscribers, individuals can get tax credits of up to $250 per year to cover a portion of their newspaper subscription fees. For advertisers who place advertising on either a local newspaper or a local broadcast stations, a tax credit of up to $5000 would be available to certain small businesses who utilize local media to get their advertising messages to their communities.
In addition, the bill would provide local media a tax credit of up to $12,500 for hiring local “journalists” who spend at least 100 hours per year on reporting local news. While the current House version of the bill provides this credit only to newspaper companies, the summary of the Senate version proposes that it also be extended to broadcasters. This provision in particular has brought support from the RTDNA – the association that represents news professionals – who see it as an incentive to local media outlets to hire more news professionals.
Continue Reading The Local Journalism Sustainability Act – Another Congressional Proposal to Help Local Media