Friday, February 13, 2009

House and Senate bills would give newspapers a tax break

The state House and Senate have introduced several bills that would cut the business and occupation tax rate for newspapers by 40 percent. Newspapers across the country, including The Seattle Times, have struggled with declining advertising revenue in recent years. The current recession has magnified the problem.

House bills 2122 and 2133 have significant backing by Democrats. Companion bills in the Senate 5961 and 5962 have bi-partisan support.

No fiscal note has been prepared yet to show the projected hit on state revenue.

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