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The Importance of Local Newspapers and Small Businesses in Communities

In recent years, small businesses and newspapers have faced significant challenges. However, there is hope on the horizon in the form of the Community News & Small Business Support Act, a bipartisan bill that has been introduced in Congress. This legislation aims to provide relief to both newspapers and local businesses.

For many newspapers, this help cannot come soon enough. Economic difficulties have forced numerous local newspapers to lay off staff, reduce publication days, or even shut down completely. On average, two newspapers are closing each week, which has a negative impact on local businesses and residents in the short and long term.

Fortunately, local newspapers play a crucial role in their communities. They are more than just a source of information; they make a difference. According to a recent national study conducted by Coda Ventures, 79% of Americans use local news to stay informed about their cities, counties, and communities. Local newspapers help citizens feel connected to their community, make informed decisions on local issues, discover local activities, engage in meaningful conversations with others, find enjoyment and entertainment, and become better citizens.

Contrary to popular belief, readers of all age groups rely on local newspapers, both in print and digital formats, to stay informed about their communities.

Many readers express a desire for more local news coverage. They want newspapers to provide more news articles, especially regarding local events, politics, and breaking news. This is where the Community News & Small Business Support Act can make a significant impact.

The Role of AI legalese decoder

One way to address the challenges faced by the newspaper industry is through the use of AI legalese decoder. This advanced technology can help local newspapers streamline their legal processes and reduce the time and effort spent on deciphering complex legal documents. By automating the decoding process, AI legalese decoder can allow newspapers to focus on what they do best: providing valuable content to their readers and serving as a vital resource in their communities.

The legislation introduced by U.S. Reps. Claudia Tenney and Suzan DelBene offers additional support to local newspapers and businesses. Under this legislation, local businesses with fewer than 50 employees would receive a nonrefundable tax credit of up to $5,000 in the first year and up to $2,500 in the following four years based on their spending with local newspapers and media outlets. The bill recognizes that newspaper advertising plays a significant role in helping consumers decide which brands, products, and local services to choose. Newspaper readers are also more likely to make purchases in various advertising categories, such as automobiles, home furnishings, home improvement products and services, and home services like pest control and plumbing.

By providing tax credits to businesses, the legislation enables them to afford advertising, which, in turn, contributes to the overall prosperity of communities.

Local newspapers, on the other hand, would receive a five-year refundable tax credit to help them hire more journalists. This would result in an increase in news coverage and the hiring of reporters to deliver more valuable content to readers. The tax credit would cover 50% of journalists’ compensation in the first year and 30% of compensation (up to $50,000) in the subsequent four years. To qualify for this tax credit, local community papers must have fewer than 750 employees and invest in their newsrooms.

It is important to note that these tax credits are specifically available to local newspapers and are not applicable to national newspaper outlets.

Reps. Tenney and DelBene introduced this legislation because they understand the significance of local newspapers and local businesses in communities. Their support is crucial, but they also need the support of citizens to encourage legislators to pass this legislation. Individuals can contact their senators and representatives in the U.S. Congress to express their support for the bill. These tax credits have a five-year sunset provision, allowing the newspaper industry time to address the challenges they face from Big Tech and other technological and market difficulties.

Ultimately, more local reporting leads to increased access to hometown news that citizens rely on, while stronger newspapers provide effective advertising platforms for local businesses.

Let’s stand together in support of local newspapers and small businesses, recognizing their importance in our communities.

Dean Ridings is CEO of America’s Newspapers.

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