Democrats’ new tax hikes contain subsidies for journalists

Democrats’ new tax hikes contain subsidies for journalists

[Ed. – Would the wording of the bill be such that journalists from the Right were excluded from the subsidy?]

The Democrats’ $2.9 trillion tax plan involves a tax credit for local news journalists.

On September 13, Democrats on the House of Representatives’ Ways and Means Committee — which plays a key role in drafting tax policy — introduced a proposal 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.

However, the proposal also includes a “Payroll Credit for Compensation of Local News Journalists.” As summarized by Editor and Publisher — a journalism industry publication — the tax credit “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.”

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