Tax Breaks to Newspapers as Nonprofits: Obama Open to Idea

September 21, 2009

(ChattahBox)—As the beleaguered newspaper industry struggles to survive, Sen. Ben Cardin (D-Md.) has introduced a bill that would offer tax breaks to newspapers that restructure, as nonprofit corporations. The bill is called, the “Newspaper Revitalization Act,” and President Obama said in a recent interview he would be open to reviewing the proposal.

President Obama recently told editors of the Pittsburgh Post-Gazette and Toledo Blade in an interview: “I haven’t seen detailed proposals yet, but I’ll be happy to look at them.” Obama was responding to questions about possible tax breaks for struggling newspapers.

White House Press Secretary Robert Gibb has previously said, when asked about offering government bailouts to ailing newspapers, that the federal government could not offer assistance. “I don’t know what, in all honesty, government can do about it,” said Gibbs.

President Obama supports a strong and healthy journalism industry, calling it “critical to the health of our democracy.”

The President expressed concern for a future media environment without newspapers that would be dominated by the blogosphere with “…people shouting at each other across the void but not a lot of mutual understanding.”

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