New York is giving news outlets $90 million in tax credits for three years to help keep journalists in their jobs and support local news which is important for our democracy.
New York’s $90 Million Tax Credit Program Aims to Preserve Journalism Jobs and Support Local News
According to the published article in AP News, New York is offering a big help to news outlets with up to $90 million in tax credits. This program lasts for three years and aims to keep journalists in their jobs. It’s because local news is important for our democracy.
The newspaper industry is struggling because they’re not making as much money from ads anymore and more people are reading news online. So, New York is stepping in to help by giving tax credits to news outlets. This means they can get some money back from the government to help them hire and keep journalists.
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$90M Tax Credit Boost: New York’s Bold Initiative to Save Local Journalism and Preserve Democracy (PHOTO: The Post Star)
Senator Hoylman-Sigal Highlights Importance of Local News in Democracy Amid New York’s Tax Credit Initiative
Furthermore, State Senator Brad Hoylman-Sigal who came up with the idea, says it’s crucial to have local news to keep our democracy healthy. He talks about a situation where a politician was able to lie to voters because there wasn’t enough local news coverage. This program aims to prevent similar situations and make sure we all have access to reliable news.
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