Biden's $50,000-per-year journalist tax credit estimated to cost taxpayers $1.6B

By Haris Alic - The Washington Times - Thursday, November 4, 2021 

The lucrative $50,000-per-year journalist tax break that Democrats have tucked within President Biden’s multitrillion-dollar social welfare bill is estimated to cost taxpayers more than $1.6 billion over the next decade.

A new analysis of the legislation by the Joint Committee on Taxation, a special congressional panel made up of 10 senior lawmakers from both chambers of Congress, found that taxpayers would be on the hook for more than $1.6 billion if the tax credit becomes law.
The credit would allow “local news” outlets to receive a quarterly tax credit, “equal to 50%” of a journalist’s wages up to a cap of $12,500-per-quarter.

Overall, eligible outlets could receive as much as $50,000 annually per journalist in tax breaks through the program in its first year. In subsequent years, the credit would drop to 30% of a journalist’s wages per quarter. Democrats propose to let the tax credit expire after five years unless Congress votes to renew.......To Read More....

 Robin's Take - Another outrage!  Democrats trying to pay back "journalists" for being grossly partisan hacks protecting them at every turn while doing all they can to harm the right