WASHINGTON (AP) — Struggling newspapers should be allowed to operate as nonprofits similar to public broadcasting stations, Sen. Benjamin Cardin, D-Md., proposed Tuesday.
Cardin introduced a bill that would allow newspapers to choose tax-exempt status. They would no longer be able to make political endorsements, but could report on all issues including political campaigns.
Advertising and subscription revenue would be tax-exempt, and contributions to support coverage could be tax deductible.
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"We are losing our newspaper industry," said Cardin. "The economy has caused an immediate problem, but the business model for newspapers, based on circulation and advertising revenue, is broken, and that is a real tragedy for communities across the nation and for our democracy."
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Speaking on the Senate floor, Cardin added, "As local papers are closing, we're losing a valuable tradition in America — critically important to our communities, critically important to our democracy."
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), but the full week rate was only a couple cents more per week, so I stuck with it.
