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President Biden is proposing to give a major tax break to local media outlets as part of the $1.85 trillion reconciliation being considered by Congress.
The tax break would allow eligible local media organizations, including newspapers, digital news websites and television stations to receive a tax credit of $25,000 per journalist they employ, and $15,000 for the following four years. The tax break can be claimed for up to 1,500 journalists.
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