Build Back Better - Maybe:
The $1.85 trillion reconciliation bill being debated in Congress is of course filled with all kinds of pork for specific industries. One very interesting provision is one that would benefit local media outlets.
President Biden is proposing to give a major tax break to local media outlets as part of the Build Back Better bill.
The tax break would allow newspapers, digital news websites and television stations to receive a tax credit of $25,000 per journalist they employ and $15,000 for the following four years. The tax break can be claimed for up to 1,500 journalists.
The measure is aimed at helping smaller local news outlets. However, larger media organizations like Gannett would benefit from the tax break and could receive as much as $127.5 Million over the next five years.
Community newspaper chain Wick Communications which is based in Sierra Vista, Arizona will get an estimated $2 Million from the tax break.
House Minority Whip Steve Scalise noted that this funding would help pay the salaries of reporters who cover Politicians. That just might affect the type of coverage.