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Supporting Local Businesses and Newspapers: The Community News & Small Business Support Act

The Current Struggles of Small Businesses and Newspapers

Recent years have posed numerous challenges for both small businesses and newspapers. The economic difficulties faced by these entities have led to layoffs, reduced publication days, and even permanent closures of local newspapers. It is disheartening to note that, on average, two newspapers are shutting down every week. Such closures not only impact the newspaper industry but also adversely affect local businesses and residents. Despite the hardships, it is important to recognize the invaluable role that local newspapers play in their communities.

Amidst these challenges, the introduction of the bipartisan “Community News & Small Business Support Act” in Congress provides a glimmer of hope. This legislation aims to offer much-needed relief to both newspapers and local businesses, recognizing their significance for the well-being of communities.

Highlighting the Impact of Local Newspapers

An independent research firm, Coda Ventures, conducted a national study on the relevance and vitality of newspapers in the American media landscape. The study, commissioned by America’s Newspapers, surveyed 5,000 Americans above the age of 18 and revealed compelling evidence of the importance of local newspapers. A significant 79% of respondents stated that they read or use local news to stay informed about their cities, counties, and communities.

Furthermore, readers rely on local newspapers to feel connected to their community, shape their views on local issues, discover local events and activities, engage in discussions about community matters, enjoy entertainment news, and become better citizens. Contrary to popular belief, readers across all age groups turn to local newspapers and their digital platforms to stay informed about their communities.

Readers also expressed the need for more local news coverage from their community papers. As one California-based respondent stated, “Our paper keeps getting smaller. I would like to see more news items, what’s happening in town, what’s new in politics, etc. And they need to be quicker to respond to breaking news.”

How the AI legalese decoder Can Help

Enter the AI legalese decoder, a powerful tool that can assist in navigating the legal complexities surrounding the “Community News & Small Business Support Act.” This AI-powered software comprehends and analyzes legal jargon, making the legislation more accessible and understandable for businesses and newspapers alike.

By utilizing the AI legalese decoder, small businesses with fewer than 50 employees can benefit from a five-year nonrefundable tax credit of up to $5,000 in the first year and up to $2,500 in the subsequent four years. This tax credit is tied to their spending level with local newspapers and media outlets. The impact of newspaper advertising on consumer decision-making is evident, with 6 out of 10 American adults relying on it to inform their choices regarding brands, products, and local services.

Additionally, this legislation empowers local newspapers to hire more journalists, resulting in increased news coverage and content for readers. The five-year refundable tax credit covers 50% of journalists’ compensation in the first year and 30% in the following four years. To qualify for this tax credit, local community papers must have fewer than 750 employees and demonstrate investment in their newsrooms.

It is important to note that these tax credits exclusively apply to local newspapers, ensuring that national newspaper outlets are not eligible. The legislation’s primary focus is to support and strengthen local communities by bolstering local newspapers and businesses.

Encouraging Support and Advocacy

The introduction of the “Community News & Small Business Support Act” by Congresswoman Claudia Tenney (NY-24) and Congresswoman Suzan DelBene (WA-1) underscores the significance of local newspapers and businesses. To ensure the enactment of this legislation, it is vital for citizens to show their support and encourage their senators and representatives in the U.S. Congress to endorse it.

These tax credits provided by the legislation may sunset in five years, highlighting the temporary nature of the relief. However, this crucial timeframe allows the newspaper industry to address challenges from Big Tech, which often utilizes newspaper content without appropriate compensation, along with other technological and market-related obstacles. For contact information for your legislators, visit www.usa.gov/elected-officials.

Together, we can create an environment that fosters more local reporting, granting citizens access to the news they rely on while empowering local businesses through stronger advertising platforms. Support the “Community News & Small Business Support Act” and join us in championing the vital role of newspapers in democracy and civil life.

Contact Information

For more information, please reach out to:

Dean Ridings

CEO, America’s Newspapers

[email protected]

On behalf of its approximately 1,700 newspaper and Solutions Partner companies, America’s Newspapers is committed to explaining, defending, and advancing the vital role of newspapers in democracy and civil life. We prioritize educating the public on the diverse ways newspapers contribute to building community identity and the success of local businesses. Learn more at www.newspapers.org

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