Community News and Small Business Support Act

This bill creates two temporary tax credits. First, small businesses with fewer than 50 employees can get a tax credit covering part of the cost of advertising in local media — up to $5,000 in the first year and up to $2,500 per year for the next four years. Second, employers who pay wages to local news journalists can get a tax credit covering a portion of those wages, starting at 50% for the first year and dropping to 30% for the following four years, with a limit on how much pay per journalist counts and a cap of 1,500 journalists total. The journalist wage credit cannot be combined with certain other tax credits for the same wages.

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