Gov. Gavin Newsom signed landmark legislation on Wednesday that he hopes will help save the gutted news media industry.
Assembly Bill 2222, also called the Community Newsroom Employment and Workforce Sustainability Act, will provide “job retention credit” of $20,000 per journalist for up to five positions, and after that, $15,000 for every additional journalist. Part-time positions will be awarded half-credits. It also stacks an additional $15,000 credit for each new hire brought into dying news outlets.
Upon signing the bill, Newsom took a swipe at President Trump, who banned outlets he deemed “fake news” from the White House press pool, a move that came after the Pentagon pulled press passes from embedded reporters who cover national security.
“While President Trump continues to attack the free press, California is supporting independent journalism,” Newsom said Wednesday. “By signing this bill, we are signaling the profound role journalists play to cover essential issues like local schools, city halls, courts, public safety agencies, businesses, and neighborhoods.”
The journalism relief plan is considered the largest bailout in U.S. history. Newsom told reporters the tax credits will not be offered to what he called “hedge funds.”
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