Newsom Signs Historic Tax Credit to Stabilize California's Local Newsrooms
Gov. Gavin Newsom signed Assembly Bill 2222, creating a refundable tax credit to support local news employment. The law offers $20,000 per journalist for the first five hires and $15,000 for additional staff, aiming to reverse a 12,000-journalist decline since 2002. While supporters call it a vital lifeline, critics warn of uncapped state liability and argue it subsidizes wealthy owners rather than struggling outlets.