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Bill > HR4756

US HR4756

US HR4756
Community News and Small Business Support Act

summary

Introduced
07/19/2023
In Committee
07/19/2023
Crossed Over
Passed
Dead
01/03/2025

Introduced Session

118th Congress

Bill Summary

A BILL To provide tax incentives that support local media.

AI Summary

This bill, the Community News and Small Business Support Act, provides tax incentives to support local media. The key provisions are: 1. It establishes a tax credit for eligible small businesses (those with fewer than 50 full-time employees) for a portion of their qualified local media advertising expenses, such as advertising in local newspapers or on local broadcast radio/TV stations. The credit is 80% of expenses in the first year, and 50% in subsequent years, with a maximum credit of $5,000 in the first year and $2,500 in later years. 2. It creates a payroll tax credit for eligible local news journalist employers (those whose gross receipts are substantially derived from publishing local newspapers) to offset a portion of the wages paid to local news journalists. The credit is 50% of wages for the first 4 quarters and 30% thereafter, with limits on the number of journalists and amount of wages that can be claimed. The bill is intended to provide financial support for local media and small businesses during a challenging time for the industry.

Committee Categories

Budget and Finance

Sponsors (54)

Claudia Tenney (R)*,  Colin Allred (D),  Cliff Bentz (R),  Gus Bilirakis (R),  Earl Blumenauer (D),  Lisa Blunt Rochester (D),  Suzanne Bonamici (D),  Jamaal Bowman (D),  Ken Calvert (R),  Yadira Caraveo (D),  André Carson (D),  Buddy Carter (R),  Greg Casar (D),  Lori Chavez-DeRemer (R),  Jason Crow (D),  Anthony D'Esposito (R),  Sharice Davids (D),  Suzan DelBene (D),  Mark DeSaulnier (D),  Scott Fitzgerald (R),  Brian Fitzpatrick (R),  Ruben Gallego (D),  Andrew Garbarino (R),  Marie Gluesenkamp Pérez (D),  Garret Graves (R),  Pramila Jayapal (D),  Tom Kean (R),  Bill Keating (D),  Mike Kelly (R),  Derek Kilmer (D),  Nick LaLota (R),  Mike Lawler (R),  Seth Magaziner (D),  Nicole Malliotakis (R),  Marc Molinaro (R),  Jimmy Panetta (D),  Chris Pappas (D),  Pat Ryan (D),  Andrea Salinas (D),  Adam Schiff (D),  Hillary Scholten (D),  Terri Sewell (D),  Adam Smith (D),  Abigail Spanberger (D),  Greg Stanton (D),  Pete Stauber (R),  Tom Tiffany (R),  Rashida Tlaib (D),  Jill Tokuda (D),  Ritchie Torres (D),  Gabe Vasquez (D),  Randy Weber (R),  Daniel Webster (R),  Susan Wild (D), 

Last Action

Referred to the House Committee on Ways and Means. (on 07/19/2023)

Bill Topics

Banking, Finance, and Domestic Commerce
  • ‐ Small Business
Macroeconomics
  • ‐ Taxation, Tax Policy, and Tax Reform
Space, Science, Technology, and Communications
  • ‐ Regulation of Media

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Document Type Source Location Created
State Bill Page https://www.congress.gov/bill/118th-congress/house-bill/4756/all-info 07/20/2023
BillText https://www.congress.gov/118/bills/hr4756/BILLS-118hr4756ih.pdf 08/10/2023
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