Newsroom tax credit component included in Ways and Means Committee markup

Local newspapers to be eligible for tax credits tied to local journalists

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The Payroll Credit for Compensation of News Journalists has been submitted as a component of the Ways and Means Committee’s markup that was released Monday morning.  This credit, a key component of the Local Journalism Sustainability Act (LJSA), will 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.  

The reconciliation bill has been submitted and is scheduled soon for a vote in the Ways & Means Committee.

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