Community News and Small Business Support Act

Key Points

• Small businesses with fewer than 50 employees could get a tax credit for advertising in local newspapers, radio, or TV stations. In the first year, the credit covers 80% of costs up to $5,000, then drops to 50% and a $2,500 limit for the next four years.
• Local news organizations would receive a payroll tax credit to help pay their journalists. This credit covers 50% of a reporter's wages in the first year and 30% in following years, with a limit of $12,500 per quarter for each journalist.
• To qualify for the help, news outlets must be local, employ at least one full-time journalist who lives in the community, and have fewer than 750 employees. This ensures the money goes to community news rather than large national corporations.
• The program is designed to be temporary and would end after five years. It aims to help local newsrooms stay open and encourage small businesses to grow by making advertising more affordable.

Impact Analysis

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