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

In recent years, small businesses and newspapers have faced significant challenges due to economic pressures. Local newspapers, in particular, have been forced to make difficult decisions such as laying off staff, reducing publication days, or even closing down entirely. On average, two newspapers are shuttering every week, impacting both local businesses and residents. Recognizing the importance of local newspapers in their communities, a bipartisan bill called the Community News & Small Business Support Act has been introduced in Congress to provide relief to both newspapers and local businesses.

Why Local Newspapers Matter

A national study conducted by the independent research firm Coda Ventures, which surveyed 5,000 Americans over the age of 18, revealed the vital role that local newspapers play in the American media landscape. The study found that 79% of Americans read and depend on local news to stay informed about their cities, counties, and communities. Local newspapers serve as a connection point, helping residents feel engaged with their community, form opinions on local issues, discover local events and activities, engage in conversations about community matters, and become better citizens.

Contrary to popular belief, the study also showed that readers across all age groups rely on local newspapers, including their digital products, as a source of information and entertainment.

However, readers expressed a need for more local news coverage. Individuals desire timely information about their towns, political developments, and breaking news events. Respondents emphasized the importance of a committed local staff to fulfill these expectations and journalistic needs.

The Community News & Small Business Support Act’s Benefits

The legislation introduced by Reps. Claudia Tenney (R-N.Y.) and Suzan DelBene (D-Wash.) aims to address the challenges faced by local newspapers and businesses. The bill offers a five-year non-refundable tax credit to local businesses with fewer than 50 employees, based on their spending levels with local newspapers and media outlets. In the first year, businesses can receive up to $5,000 in tax credits, followed by up to $2,500 in the subsequent four years.

The study revealed that newspaper advertising significantly influences consumer decisions, with six out of 10 American adults relying on newspaper ads to guide their purchases of brands, products, and local services. In fact, newspaper readers are twice as likely to purchase products and services from various advertising categories, including automobiles, home furnishings, home improvement products, and home services like pest control and plumbing.

By enabling businesses to afford advertising through the tax credits, the legislation helps local communities thrive by increasing consumer access to information about local brands and services.

For local newspapers, the bill provides a five-year refundable tax credit that would enable the hiring of more journalists, leading to greater news coverage. Community newspapers, with fewer than 750 employees and a commitment to investing in their newsrooms, would be eligible for this tax credit.

Supporting the Community News & Small Business Support Act

The introduction of this legislation by Reps. Tenney and DelBene highlights the significance of local newspapers and local businesses in their communities. To ensure the bill’s passage, it is crucial for individuals to contact their congressional representatives and urge them to support this legislation. It is important to note that these tax credits are not permanent and will expire after five years. However, these five years are critical for the newspaper industry to overcome its challenges and continue serving the community.

In conclusion, stronger local newspapers mean enhanced access to news for citizens, while also providing local businesses with more effective advertising platforms. The passage of the Community News & Small Business Support Act would support the vitality and longevity of local newspapers, benefiting both the community and the businesses operating within it.

Dean Ridings is the CEO of AmericaÔÇÖs Newspapers, an organization dedicated to promoting and defending the essential role of newspapers in democracy and civil life. InsideNoVa is a member of this organization. Ridings can be contacted at [email protected].

How AI legalese decoder Can Help

The use of AI legalese decoder can facilitate the understanding and interpretation of the Community News & Small Business Support Act. This advanced artificial intelligence tool can efficiently analyze and decode complex legislative texts, transforming them into clear and easily readable language. By utilizing AI legalese decoder, individuals and businesses can gain a comprehensive understanding of the bill’s provisions and the impact it will have on local newspapers and businesses. This helps foster informed discussions, encourages support for the legislation, and ensures better implementation of its intended benefits.

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