Cardin proposes ‘bailout’ of newspapers
Senator Cardin has introduced legislation that would allow newspapers to become non-profit organizations.
Cardin tells WBAL’s Scott Wykoff the Newspaper Revitalization Act would allow newspapers to operate as non-profits, if they choose, under 501(c)(3) status for educational purposes, similar to public broadcasting.
Senator Cardin says his goal in introducing the bill is to help the newspaper industry survive.
He says that under this arrangement, newspapers would not be allowed to make political endorsements, but would be allowed to freely report on all issues, including political campaigns.
Senator Cardin says advertising and subscription revenue would be tax exempt and contributions to support coverage or operations could be tax deductible.
Cardinsays the measure is targeted to preserve local newspapers serving communities and not large newspaper conglomerates.
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[...] DCRTV reports that Senator Ben Cardin will be on WEAA on the Marc Steiner Show during the 5 p.m. hour today. Cardin will discuss his proposal to allow newspapers to become non-profits. [...]
Pingback by Cardin on Steiner this afternoon — May 11, 2009 @ 4:44 pm