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Newspaper Bailout Bill

President Obama is willing to sit down and take a look at bills in congress that would bailout failing newspaper organizations as long as they were willing to convert to nonprofit organizations.

newspapers

Personally I would be opposed to giving these organizations financial support from taxpayers, but whatever the President has bailed out so much already I don't figure he cares much what other people think.

"The president said he is "happy to look at" bills before Congress that would give struggling news organizations tax breaks if they were to restructure as nonprofit businesses.

"I haven't seen detailed proposals yet, but I'll be happy to look at them," Obama told the editors of the Pittsburgh Post-Gazette and Toledo Blade in an interview.

Sen. Ben Cardin (D-Md.) has introduced S. 673, the so-called "Newspaper Revitalization Act," that would give outlets tax deals if they were to restructure as 501(c)(3) corporations. That bill has so far attracted one cosponsor, Cardin's Maryland colleague Sen. Barbara Mikulski (D). " via

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