{"id":791570,"date":"2021-09-19T15:14:06","date_gmt":"2021-09-19T19:14:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=791570"},"modified":"2021-09-19T15:14:11","modified_gmt":"2021-09-19T19:14:11","slug":"democrats-new-tax-hikes-contain-subsidies-for-journalists","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-new-tax-hikes-contain-subsidies-for-journalists\/","title":{"rendered":"Democrats\u2019 New Tax Hikes Contain Subsidies For Journalists"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdemocrats-new-tax-hikes-contain-subsidies-for-journalists%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=791570&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/09\/AAB792F8-3890-4A8F-826F-94CD8B37383C-scaled-1.jpeg?w=1200&amp;h=800&amp;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>The Democrats\u2019 $2.9 trillion tax plan involves a tax credit for local news journalists.<\/span><\/p>\n<p><span>On September 13, Democrats on the House of Representatives\u2019 Ways and Means Committee \u2014 which plays a key role in drafting tax policy \u2014 introduced a <\/span><a href=\"https:\/\/waysandmeans.house.gov\/sites\/democrats.waysandmeans.house.gov\/files\/documents\/SubtitleISxS.pdf\"><span>proposal<\/span><\/a><span> to raise $2.9 trillion in new federal revenue over the course of ten years. The proposal centers upon drawing more funds from wealthy Americans by raising the corporate tax, the capital gains tax, the estate tax, and the income tax.<\/span><\/p>\n<p><span>However, the proposal also includes a \u201cPayroll Credit for Compensation of Local News Journalists.\u201d As summarized by <\/span><a href=\"https:\/\/www.editorandpublisher.com\/stories\/newsroom-tax-credit-component-included-in-ways-and-means-committee-markup,202294\"><span>Editor and Publisher<\/span><\/a><span> \u2014 a journalism industry publication \u2014 the tax credit \u201cwill provide local newsrooms the opportunity to receive a five-year tax credit of up to $25,000 per journalist in the first year and up to $15,000 in the subsequent four years.\u201d<\/span><\/p>\n<p><span>A local newspaper will be eligible for the tax credit if it \u201cserves the needs of a regional or local community\u201d and \u201cemploys no more than 750 employees.\u201d<\/span><\/p>\n<p><span>The Democrats\u2019 new tax policy draws from the <\/span><a href=\"https:\/\/www.congress.gov\/bill\/117th-congress\/house-bill\/3940\/text\"><span>Local Journalism Sustainability Act<\/span><\/a><span>, which was proposed by Rep. Ann Kirkpatrick (D-AZ) in June. Beyond the $12,500 tax credit for local publications, the legislation would grant Americans who subscribe to \u201cone or more local newspapers\u201d a $250 tax credit of their own.<\/span><\/p>\n<p><span>\u201cLocal Journalism is a bedrock pillar of communities across the United States,\u201d Kirkpatrick <\/span><a href=\"https:\/\/kirkpatrick.house.gov\/2021\/06\/16\/reps-kirkpatrick-newhouse-introduce-local-journalism-sustainability-act\/\"><span>argued<\/span><\/a><span> in June. \u201cUnfortunately, journalistic endeavors throughout the country face major economic struggles that put the future of many publications in serious jeopardy. These struggles existed before COVID, but the pandemic only made them more severe. We need to make sure these publications can sustain themselves through this crisis and beyond, and I believe the credits in this bill make significant progress in providing a pathway to that sustainability.\u201d<\/span><\/p>\n<p><span>\u201cThe ongoing challenges at local newspapers were made worse by the pandemic,\u201d added Dean Ridings, CEO of America\u2019s Newspapers. \u201cThe result is even more pressure to maintain newsroom positions and the critical local news gathering that is at the heart of our democracy. As local newspapers continue their progression to a sustainable digital future, the Local Journalism Sustainability Act will provide meaningful assistance as newspapers seek to provide information in new ways to meet the needs of their audience.\u201d<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Democrats\u2019 $2.9 trillion tax plan involves a tax credit for local news journalists.On September 13, Democrats on the House of Representatives\u2019 Ways and Means Committee \u2014 which plays a &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-791570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/791570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=791570"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/791570\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=791570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=791570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=791570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}