3/24/2009 — WASHINGTON (AP) — A Maryland senator is proposing
that newspapers be allowed to operate as nonprofits. A bill by Sen.
Benjamin Cardin, D-Md., would let newspapers choose a tax-exempt status
similar to public broadcasting stations.
The Maryland senator said
Tuesday that papers opting for this choice would not be allowed to make
political endorsements. However, they would be free to report on all
issues, including political campaigns.
Advertising and subscription revenue would be tax-exempt and contributions to support coverage could be tax deductible.
It's
not news that print journalism is suffering like other industries
throughout the world, and I guess this is a "nice idea". But I'm
wondering just how much this would actually help the bottom line. And
why just for newspapers?