Cardin’s Newspaper Revitalization Act would allow newspapers to
operate as nonprofits for educational purposes under the U.S. tax code,
giving them a similar status to public broadcasting companies.
Under this arrangement, newspapers would still be free to report on
all issues, including political campaigns. But they would be prohibited
from making political endorsements.
Advertising and subscription revenue would be tax exempt, and
contributions to support news coverage or operations could be tax
deductible. — Thomas Ferarro, Reuters
Will struggling for-profit papers be able to compete with government-supported papers? PBS and NPR do top-notch work, though the perceived liberal bias of NPR is one reason why conservative talk radio has flourished in the last decade.