Tax credit to pay the salaries of local journalists finds its way back into budget bill

Congressional Democrat have reinserted a measure to include a tax credit for Washington, D.C.-area journalists into the House's version of President Biden's $1.75 trillion domestic spending bill. 

To be included in any version that would go to Biden for his signature, the measure will also need to gain the support from Senate Democrats and survive any cuts before passage.

The recently cut measure was reportedly added back in after publishers and owners of local newspapers communicated the seriousness of the financial crisis in local news to their congressional representatives.

If passed, the credit would supply half the salary of local journalists up to $50,000 a year, and add 30% for four years after that. The measure would run a bill of roughly $1 billion in its first year.

"This is a huge step forward for a strong, local press – and for the communities they serve," said Steven Waldman, president and co-founder of Report for America, a national service that places up-and-coming journalists in newsrooms across the country.

The House and Senate provisions are currently in alignment on several facets of the measure including what sorts of newsrooms and broadcasters would qualify for the credit. That limit that will be placed on how much a single corporation can receive, and a need to screen out political advocacy groups.