U.S. Senator Benjamin L. Cardin (D-MD) has introduced legislation that would allow newspapers to become non-profits.
Cardin says the Newspaper Revitalization Act is intended to help the faltering newspaper industry survive.
But there’s a snag: under the act, newspapers would not be allowed to make political endorsements.
They would, however, be allowed to freely report on all issues, including political campaigns.
Advertising and subscription revenue would be tax exempt and contributions to support coverage/operations could be tax deductible.
“The measure is targeted to preserve local newspapers serving communities and not large newspaper conglomerates,” states the press release posted at Cardin’s website.
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