Biden bill would give local news outlets 'shot in the arm'
By FARNOUSH AMIRI and TALI ARBEL Associated Press
WASHINGTON (AP) — President Joe 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 to local news organizations.
The help would come in the form of a payroll tax credit for companies that employ eligible local journalists.
The measure would allow newspaper, digital news outlets and radio and TV 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.
It's a response to growing alarm that the elimination of newsroom jobs is leaving communities without access to critical information.