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Business
Published
03/25/09
WASHINGTON - Sen. Benjamin L. Cardin gave the faltering newspaper industry a boost Tuesday, introducing a bill to keep communication open in towns by allowing their papers to become nonprofits. Find Us On Facebook
The Newspaper Revitalization Act proposed by the Maryland Democrat would allow 501(c)(3) status for newspapers as educational endeavors, making advertising and subscription revenue tax exempt.
"This is not going to be an option that a lot of papers will choose," Cardin said in a Senate session, indicating that larger, for-profit news organizations will be unlikely to opt for nonprofit status. The federal government won't...
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