Community News and Small Business Support Act

Bill 119 HR 1753, also known as the Local Journalism Sustainability Act, aims to provide tax incentives to support local media outlets. The bill was introduced in the US Congress with the goal of helping to sustain and strengthen local journalism, which plays a crucial role in informing communities and holding local governments accountable.

The key provisions of the bill include the creation of a refundable tax credit for local media outlets to cover up to 50% of the first $250,000 in wages for each journalist they employ. This tax credit is intended to help offset the costs of hiring and retaining journalists, who are essential for producing high-quality, independent reporting.

Additionally, the bill proposes a tax credit for individuals who subscribe to local newspapers or online news outlets. This credit would cover up to $250 of the cost of a subscription, encouraging more people to support local journalism and ensuring that these outlets have a stable source of revenue. Overall, the Local Journalism Sustainability Act is designed to address the challenges facing local media outlets, such as declining advertising revenue and competition from digital platforms. By providing tax incentives to support local journalism, the bill aims to ensure that communities have access to reliable, trustworthy news sources that keep them informed and engaged.