An effort by an Arlington legislator to aid the commonwealth’s struggling local-news industry will have to wait until 2025 for full consideration in Richmond.
Del. Alfonso Lopez (D-Arlington-Alexandria) for several years has floated the idea of taking two steps to help outlets that provide news in various formats (print, online, television and radio) in Virginia:
• Giving the owners of those outlets tax credits for employing journalists earning less than $50,000 a year.
• Providing tax credits for small businesses that advertise with such outlets.
The House Committee on Finance punted the measure – HB 961 – to the 2025 session.
If ultimately enacted, the cost to Virginia taxpayers would depend on how many firms took advantage of the tax credits. The bill caps total credits statewide at $5 million per year for the news organizations and $10 million for the advertisers.
