A Rescue Plan for Newspapers

Americans got $600 checks in the mail last year, and Sen. Ben Cardin (D-MD) wants to give the faltering newspaper industry a similar reprieve. Cardin has introduced a bill that would allow newspapers to claim tax exempt 501(c)3 status, as public broadcasting stations do. Since 501(c)3 status pertains to "educational purposes," papers that claimed exemption would not be able to endorse political candidates. The bill is titled the Newspaper Revitalization Act--a word choice reminiscent of contemporary economic rescue efforts--and has no cosponsors as of yet; according to Cardin's office, it will head to the Senate Finance Committee for consideration.