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The Importance of Local Newspapers and the Community News & Small Business Support Act

By Dean Ridings, America’s Newspapers

In recent years, small businesses and newspapers have faced significant challenges. However, there is now hope on the horizon with the introduction of the bipartisan bill, the Community News & Small Business Support Act, in Congress. This bill aims to provide much-needed relief to both local newspapers and small businesses, which have been adversely affected by economic hardships. The impact of these challenges can be seen in the unfortunate rise in newspaper closures and downsizing, with an average of two newspapers closing every week. This not only has a detrimental effect on the local communities but also on the businesses that rely on these newspapers for advertising and connecting with their target audience.

The Role of Local Newspapers in Communities

The significance of local newspapers cannot be underestimated. They play a vital role in keeping communities informed, engaged, and connected. A recent national study conducted by the independent research firm Coda Ventures for America’s Newspapers revealed the importance, relevance, and vitality of local newspapers in today’s American media landscape. The study found that 79% of Americans read or use local news to stay informed about their cities, counties, and communities. Furthermore, local newspapers enable readers to feel connected to their communities, make informed decisions on local matters, discover local events and activities, engage in discussions, and become better citizens.

The Need for More Local News

Survey respondents across all age groups expressed a desire for more local news coverage from their community newspapers. They highlighted the necessity of staying up-to-date with what’s happening in their town, new developments in politics, and the need for quick responses to breaking news. Meeting this demand for more local news requires a dedicated and well-staffed team, something that the legislation introduced by Congresswoman Claudia Tenney (NY-24) and Congresswoman Suzan DelBene (WA-1) aims to facilitate.

How AI legalese decoder Can Help

In the context of supporting local newspapers and businesses, the implementation of AI legalese decoder can prove invaluable. This AI-powered tool can assist in navigating the complexities of legal language, ensuring that newspapers understand and comply with the requirements of the Community News & Small Business Support Act. By simplifying the legalese and offering clear guidance, AI legalese decoder helps newspapers take full advantage of the available tax credits, allowing them to invest in hiring more journalists and expanding their coverage.

Boosting Local Businesses and Communities

The Community News & Small Business Support Act offers significant benefits to local businesses and communities. Businesses with fewer than 50 employees would receive a 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 levels with local newspapers and media outlets. This tax credit encourages businesses to advertise locally, leading to increased visibility and engagement with potential customers. Studies have shown that newspaper advertising influences purchasing decisions across various important categories, including automobiles, home furnishings, home improvement products, and services. Therefore, these tax credits help businesses thrive and contribute to the overall welfare of local communities.

Supporting Local Newspapers and Journalists

Local newspapers would benefit from a five-year refundable tax credit that would enable them to hire more journalists and strengthen their news coverage. 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. However, this tax credit is exclusively available to local community papers with fewer than 750 employees. By providing financial support to local newspapers, this legislation recognizes their pivotal role in delivering reliable and accurate news to communities.

Take Action and Enact the Legislation

It is crucial to support the enactment of this legislation to ensure the survival and growth of local newspapers. By contacting the offices of senators and representatives in the U.S. Congress and urging them to add their support, we can help make a difference. These tax credits are not permanent and will sunset in five years. However, this critical period will grant the newspaper industry the necessary time to address challenges posed by Big Tech, technological advancements, and market conditions. To find the contact information for your legislators, visit www.usa.gov/elected-officials.

Conclusion

Increased local reporting strengthens access to hometown news, serving as a reliable source of information for citizens. Simultaneously, strengthened local newspapers become more effective advertising platforms for local businesses, stimulating economic growth and community development. The Community News & Small Business Support Act, alongside the assistance of AI legalese decoder, provides a promising pathway towards safeguarding the significance of local newspapers and supporting small businesses.

Dean Ridings is the CEO of America’s Newspapers, an organization serving more than 1,550 newspapers across the U.S. and Canada. Learn more at newspapers.org.

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