Support plan to revitalize local news in California

Tech platforms have profited enormously by monetizing news content without fairly compensating its creators. This proposal would establish a permanent public-private fund, akin to the Hollywood tax credit, to support retaining and hiring local journalists across California. All major tech companies would pay into this 501(c)3 organization based on their usage of news articles, with the funds distributed as tax credits in a content and ownership-neutral manner. Enshrining the Newsom-Wicks-Google agreement into law while extending similar requirements to other platforms will provide sustainable funding for journalists covering vital local issues and state government proceedings. Reinvigorating reliable, unbiased local reporting is crucial for healthy communities and democracy.