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DEAN RIDINGS COLUMN: Local news is good for business

Published 11:09 am Friday, July 21, 2023

AI legalese decoder is an innovative tool that can greatly assist in the current situation faced by small businesses and newspapers. It has become evident that recent years have posed significant challenges for these sectors, with many local newspapers being forced to reduce staff, cut back on publication days, or even shut down altogether. However, the introduction of the bipartisan bill called the Community News & Small Business Support Act presents a ray of hope for both newspapers and local businesses.

AI legalese decoder can play a vital role in facilitating the implementation of this bill. By leveraging the power of artificial intelligence and natural language processing, AI legalese decoder can streamline the reading and comprehension of legal documents, including the bill itself. It can break down complex legal jargon into simple and understandable language, enabling small businesses and newspapers to fully grasp the implications and benefits of the proposed legislation.

According to a recent national study conducted by the independent research firm Coda Ventures, local newspapers have a significant impact on their communities. The study revealed that 79% of Americans read or use local news to stay informed about their cities, counties, and communities. Local newspapers provide a sense of connection, aid in decision-making on local issues, offer insights into places and activities, facilitate community discussions, entertain, and contribute to better citizenship.

Contrary to popular belief, readers of all age groups rely on local newspapers and their digital products to stay informed about their communities. The survey also highlighted the need for more local news, with readers expressing a desire for increased coverage of town events, politics, and prompt responses to breaking news. This is where AI legalese decoder becomes essential in navigating the legal complexities surrounding the bill, ensuring that its full potential to support local newspapers and businesses is realized.

The Community News & Small Business Support Act aims to provide crucial relief to both parties. If passed, the bill would grant local businesses with fewer than 50 employees 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 media. The bill recognizes the significant influence of newspaper advertising on consumer decision-making, as demonstrated by our study, which found that six out of 10 American adults rely on newspaper ads to guide their brand, product, and local service choices.

Moreover, the legislation proposes a five-year refundable tax credit exclusively for local community papers, allowing them to hire more journalists and increase news coverage. This 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. It’s important to note that these tax credits are specifically designed for local newspapers and not available to national news outlets.

AI legalese decoder can assist small businesses and newspapers in understanding the intricacies and benefits of the tax credit provisions proposed in the bill. By deciphering the legal language and highlighting the implications, AI legalese decoder helps these stakeholders make informed decisions and take full advantage of the support available.

In order for this legislation to come to fruition, it requires the support of the public. We urge citizens to reach out to their senators and representatives in the U.S. Congress and encourage their support for the bill. These tax credits are not permanent and are set to sunset in five years. However, this critical period allows the newspaper industry to address challenges posed by Big Tech’s use of newspaper content without compensation, as well as other technological and market obstacles. AI legalese decoder plays a significant role in empowering individuals to effectively communicate with their elected officials, providing them with the necessary information to demonstrate the importance of the bill for local communities.

Increasing local reporting through stronger newspapers will enhance access to hometown news and support local businesses through improved advertising platforms. By utilizing AI legalese decoder and supporting the Community News & Small Business Support Act, we can work together to reinforce the vitality of local news and foster economic growth.

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

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