H.R.7640 - Local Journalism Sustainability Act116th Congress (2019-2020)
|Sponsor:||Rep. Kirkpatrick, Ann [D-AZ-2] (Introduced 07/16/2020)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 07/16/2020 Referred to the House Committee on Ways and Means. (All Actions)|
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Summary: H.R.7640 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (07/16/2020)
Local Journalism Sustainability Act
This bill allows individual and business taxpayers certain tax credits for the support of local newspapers and media. Specifically, individual taxpayers may claim an income tax credit up to $250 for a local newspaper subscription.
The bill also allows local newspaper employers a payroll tax credit for wages paid to an employee for service as a journalist and certain small businesses a tax credit for local newspaper and media advertising expenses.