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And now...curtain please... the Newspaper Revitalization Act!
WASHINGTON (Reuters) - With many U.S. newspapers struggling to survive, a Democratic senator on Tuesday introduced a bill to help them by allowing newspaper companies to restructure as nonprofits with a variety of tax breaks.
"This may not be the optimal choice for some major newspapers or corporate media chains but it should be an option for many newspapers that are struggling to stay afloat," said Senator Benjamin Cardin.
A Cardin spokesman said the bill had yet to attract any co-sponsors, but had sparked plenty of interest within the media, which has seen plunging revenues and many journalist layoffs.
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.
I'm waiting for the bailout for kids' lemonade stands. Oh, wait...those are already illegal in many places.
U.S. bill seeks to rescue faltering newspapers
Labels: ObamaNation, Political Observation, Social Observation, Theater of the Absurd
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