News/Media Alliance Applauds Industry Victories within Reconciliation Package

Arlington, VA - The News/Media Alliance, the largest trade association representing the news media industry, released the following statement upon President Trump signing his major policy package into law today.

Danielle Coffey, President and CEO of the News/Media Alliance, said, "We applaud Congress and President Trump for advancing a bill that will promote the production of high-quality journalism across the country. The legislation's pro-growth tax policy will give publishers the stability and resources they need to invest in coverage that communities across America rely on. We are particularly pleased that the misguided moratorium on state regulation of artificial intelligence was cut from the final bill, and hope that in its wake, Congress will now take up further legislation to regulate AI on a federal level."

The bill reflects a number of key priorities for the Alliance, including:

• Rejecting a moratorium on state legislation to regulate Artificial Intelligence
• Preserving the deductibility of advertising expenses
• Permanently restoring full capitalization of research or experimental expenditures
• Permanently restoring full bonus depreciation
• Reversing the limit on net interest expense to include depreciation and amortization
• Permanent extension of the reduced 2017 corporate tax rate