Payroll Tax Credit
Local News Payroll Tax Credit
In 2022, The House of Representatives passed an important proposal to help save local news. The idea: provide news organizations with a refundable tax credit for hiring and retaining local reporters. It would have provided news organizations with up to $25,000 in support per reporter in the program’s first year, and $15,000 after that.
The idea is elegant in its simplicity. No government agency deciding who gets what. No lengthy grant applications. Simple criteria for what counts as a local news organization. Available to for-profits and nonprofits; mom-and-pop papers, and metro dailies.
It has a nice incentive structure – if you cut your staff in half, you cut your benefit in half. If you hire more local reporters, you get more.
It would be the most significant government in generations – including for organizations covering communities of color, rural areas.
Congress is still considering the proposal
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