The News/Media Alliance applauds the passage of New York’s Newspaper and Broadcast Media Jobs Program, providing payroll tax credits for journalists. Starting next year, news entities of all sizes that are based in the State of New York are eligible to benefit from some aspect of the program, including a $5,000 tax credit for each net new journalism job created, and each publication can apply for a tax credit of up to $25,000 for up to 50 percent of an existing full-time journalism salary, up to a total of $300,000 per year per newsroom in refundable tax credits through 2028.
Danielle Coffey, President and CEO of the News/Media Alliance stated, “Today is a very good day for journalism, and we applaud the New York State Legislature and Governor Hocul for passing the Newspaper and Broadcast Media Jobs Program, which will provide payroll tax credits for journalists. The program is a shining example of what our industry can do when it unites for a common purpose. We thank the Governor and Legislature for their commitment to sustaining the Fourth Estate, which is necessary to maintaining an informed society and a functional democracy. We view this as an intermediate lifeline, not to replace the fair market value owed to news publisher by big tech. This is in no way diminishes their obligation to compensate news publishers for the value of their content.”
###
Members of the News/Media Alliance staff have contributed to this post.
