Senator proposes turning newspapers into non-profits

Rueters reported yesterday a US Senator introducing a bill turning newspapers into non-profits:

“…a Democratic senator on Tuesday introduced a bill to help them by allowing newspaper companies to restructure as nonprofits with a variety of tax breaks…Under this arrangement, newspapers would still be free to report on all issues, including political campaigns. But they would be prohibited from making political endorsements.Advertising and subscription revenue would be tax exempt, and contributions to support news coverage or operations could be tax deductible….”