Opinion: Local journalism needs Wyden to champion tax-credit bill - OregonLive

Dean Ridings

Ridings is chief executive officer of America’s Newspapers, a national organization committed to defending and advancing the vital role of newspapers in democracy and civil life. He is based in Dallas.

I am an unabashed fan of local journalism. And as CEO of an association representing more than 1,500 newspapers, I know that local newspapers, including The Oregonian/OregonLive, have a direct and positive impact on the communities they serve. When that newspaper’s voice is diminished or goes away, the impact on the community can be devastating.

Oregon’s senior senator, Ron Wyden, is one of the co-sponsors of a bill in the U.S. Senate, the Local Journalism Sustainability Act that will benefit not only the newspapers of Oregon, but also their subscribers and advertisers, and help ensure newspapers remain vibrant. As chair of the Senate Finance Committee, Wyden can play a critical role in shepherding this bill to passage. While there are many competing priorities before him, this bill deserves Wyden’s unflagging support and leadership.

Newspapers are going through a significant transition as their readers have been migrating online for the past decade. While many newspapers have seen their total audience grow, the same can’t be said for advertising revenue. Disruptive forces have made it difficult for newspapers to maintain their newsrooms and provide their communities with the coverage they want and need.

I appreciate Wyden’s support of $3.6 billion last year to help states expand vote-by-mail and early voting – key principles of ensuring the success of our Democratic process. Local newspapers also play a crucial role, from providing their audience with information about the candidates to explaining the impact of newly passed bills. They also provide information that affects the daily lives of every community member, such as property rezoning, high school sports, new businesses opening or closing and critical health information – like where to get the vaccine.

Unlike many issues in Washington, this legislation has bipartisan support and is focused on delivering benefits to local communities across Oregon and the U.S. by sustaining local news organizations, including this newspaper.

This legislation provides an important, but temporary means of support to help newspapers with the much-needed transition to a more digital ecosystem. Through this legislation, subscribers will receive a tax credit of up to $250 per year. It’s a win-win for subscribers as this tax credit will cover a significant part of their annual newspaper subscription, no matter if it’s print or digital.

For local businesses, there’s a direct benefit as well. When they use the effective print and digital solutions of their local newspaper, they will be eligible for a tax credit up to $5,000 the first year and $2,500 per year for the next four years. Not only will this credit offset some of their advertising investment, it also will help them improve their business by reaching more customers and generating more sales. It keeps money invested locally and helps maintain jobs and support other local initiatives.

For local newspapers, the legislation provides a much-needed bridge to continue the evolution toward a digitally-based model. The temporary tax credits for newspapers will be tied directly to maintaining healthy newsrooms and employing professional journalists committed to producing local news and information.

However, in order for the bill to provide these benefits to subscribers, local businesses, newspapers, and the community itself, Wyden’s leadership is needed to get this bill passed. We thank the senator for his proven interest in making our communities better and thank him in advance for his support and leadership in passing the Local Journalism Sustainability Act.

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Opinion: Local journalism needs Wyden to champion tax-credit bill - OregonLive
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