By Associated Press
November 15, 2021
President Biden’s $1.85 trillion social spending bill includes a provision that, if it becomes law, would mark the first time the federal government has offered targeted support in response to the decline of local news.
The help would come in the form of a payroll tax credit for companies that employ eligible local journalists. The measure would allow newspapers, digital news outlets and radio and television stations to claim a tax credit of $25,000 the first year and $15,000 the next four years for up to 1,500 journalists.