Local Journalism Sustainability Act

Local Journalism Sustainability Act

This bill allows individual and business taxpayers tax credits for the support of local newspapers and media. Specifically, individual taxpayers may claim an income tax credit up to $250 for a local newspaper subscription.

The bill also allows local newspaper employers a payroll tax credit for wages paid to an employee for service as a local news journalist and certain small businesses a tax credit for local newspaper and media advertising expenses.

Bill 117 HR 3940, also known as the Local Journalism Sustainability Act, is a piece of legislation introduced in the US Congress aimed at supporting and sustaining local journalism outlets. The bill seeks to address the decline of local news organizations by providing tax credits to individuals who subscribe to local newspapers or make donations to local news organizations.

The Local Journalism Sustainability Act proposes a tax credit of up to $250 for individuals who subscribe to a local newspaper, as well as a tax credit of up to $250 for individuals who make donations to local news organizations. The bill also includes a provision for a tax credit of up to $5,000 for small businesses that advertise in local newspapers or on local news websites.

The goal of the bill is to incentivize individuals to support local journalism outlets, which play a crucial role in providing communities with important news and information. By providing tax credits to subscribers, donors, and advertisers, the Local Journalism Sustainability Act aims to help local news organizations generate much-needed revenue to continue operating and serving their communities. Overall, the Local Journalism Sustainability Act is a bipartisan effort to support and sustain local journalism outlets, which are essential for keeping communities informed and engaged. The bill is currently being considered in Congress and has the potential to make a significant impact on the future of local news organizations across the country.