• by Ray Schultz , July 5, 2025

Editorial writers may decry some of the measures in President Trump’s budget bill, which he signed on Friday. But the News/Media Alliance sees some positive things for publishers. 

The Alliance praises the legislation for reflecting these publishing priorities (and we quote): 

• 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.

“We applaud Congress and President Trump for advancing a bill that will promote the production of high-quality journalism across the country,” says Danielle Coffey, president and CEO of the News/Media Alliance. “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.”

Coffey adds: “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 membership of the News/Media Alliance covers nearly 90% of the daily newspaper circulation in the U.S. and includes 500 magazine brands.