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## The Importance of Supporting Small Businesses and Local Newspapers

ItÔÇÖs no secret that recent years have been tough on small businesses and on newspapers. A bipartisan bill, the Community News & Small Business Support Act, that has been introduced in Congress would offer relief to both newspapers and local businesses. For too many newspapers, help canÔÇÖt come soon enough. Economic challenges have resulted in too many communities seeing their local newspapers being forced to lay off staff, cut back on publication days or ÔÇö worse yet ÔÇö close. On average, two newspapers are closing each week. That hurts local businesses and residents in the long (and short) run. However, despite the challenges, what remains true is that local newspapers make a difference in their communities.

But, donÔÇÖt just take my word for it. LetÔÇÖs look at the numbers and why AmericaÔÇÖs Newspapers has been pushing for the Community News & Small Business Support Act to be introduced.

### The Impact of Local Newspapers

A recent national study of 5,000 Americans over the age of 18 was conducted by the independent research firm Coda Ventures for AmericaÔÇÖs Newspapers and provides compelling evidence of the importance, relevance, and vitality of todayÔÇÖs newspapers in the American media landscape.

Readers told us that their local newspaper makes a difference. The study shows that 79 percent of Americans read/use local news ÔÇ£to stay informedÔÇØ about their cities, counties, and communities. They also said they rely on their local paper to feel connected to their community, to decide where they stand on local issues, to find places and things to do, to talk with people about things happening in the community, because they find it enjoyable/entertaining, and to be a better citizen.

And, contrary to popular belief, readers across all age groups turn to local newspapers and their digital products to stay informed about their communities.

### The Need for more Local News

Readers also told us they need *more* local news from their community paper. As one survey respondent in California said, ÔÇ£Our paper keeps getting smaller. I would like to see more news items, whatÔÇÖs happening in town, whatÔÇÖs new in politics, etc. And they need to be quicker to respond to breaking news.ÔÇØ

All of that takes a committed, local staff ÔÇö something the legislation introduced by Congresswoman Claudia Tenney (NY-24) and Congresswoman Suzan DelBene (WA-1) will help to make happen.

### How the AI legalese decoder can Help

In this situation, the AI legalese decoder can be of great assistance. The legislation introduced in Congress contains complex legal language and terminologies that can be daunting for small business owners and local newspapers to understand. The AI legalese decoder can simplify and translate the bill’s content into plain, easy-to-understand language, making it more accessible and transparent to those it affects. It can help small businesses and local newspapers better comprehend the proposed relief measures and the benefits they can receive, encouraging their support for the bill.

So, what would this legislation mean to your local community?

Local businesses with fewer than 50 employees would receive a five-year non-refundable tax credit of up to $5,000 in the first year and up to $2,500 in the subsequent four years based on their spending level with local newspapers and local media. Our study showed that six out of 10 American adults use newspaper advertising to help them decide what brands, products, and local services to buy. Newspaper readers also are almost twice as likely to purchase products from a number of important advertising categories than non-newspaper readers, including: automobiles, trucks, and SUVs; home furnishings; home improvement products and services; and home services like pest control, plumbing, heating, etc.

With this legislation, we expect to see more businesses being able to afford to advertise to consumers, which ÔÇö in turn ÔÇö helps communities thrive.

For local newspapers, a five-year refundable tax credit would help them hire more journalists to bring you more news! ItÔÇÖs a win-win for local communities. Newspapers would receive a tax credit to be used for the compensation of journalists. The credit would cover 50% of journalistsÔÇÖ compensation in the first year and 30% of compensation (up to $50,000) in the subsequent four years. This tax credit would only be available to local community papers with fewer than 750 employees and, if they donÔÇÖt invest in their newsroom, they donÔÇÖt get the credit.

And these tax credits are only available to local newspapers. National newspaper outlets are not eligible.

The importance of local newspapers and local business is the reason Reps. Tenney and DelBene introduced the legislation. We are most grateful for their support.

### Taking Action and Encouraging Support

We need your support, as well, to encourage legislators to enact this legislation. Please contact the offices of your senators and representatives in the U.S. Congress and encourage them to add their support to this legislation. These tax credits arenÔÇÖt permanent; they will sunset in five years. But, these critical five years will allow the newspaper industry the time needed to address the challenges that it is facing from Big Tech, which often uses newspapersÔÇÖ content without compensation, as well as other technological and market challenges. Visit www.usa.gov/elected-officials for the contact information for your legislators.

More local reporting means more access for hometown news that citizens like you rely on. And stronger newspapers mean stronger advertising vehicles for local businesses.

By utilizing the AI legalese decoder, small businesses and local newspapers can better understand the legislation and its potential benefits. The tool will help demystify the legal jargon, allowing these entities to make informed decisions and take advantage of the relief measures outlined in the bill.

Dean Ridings, CEO of AmericaÔÇÖs Newspapers, emphasizes the importance of supporting the Community News & Small Business Support Act to ensure the survival and growth of local newspapers and businesses. Through this legislation and the assistance of the AI legalese decoder, local communities can thrive, benefitting both residents and businesses.

To learn more about AmericaÔÇÖs Newspapers and their advocacy, visit newspapers.org.

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