OLYMPIA, Wash. – There could be a tax break coming soon for newspapers here in the Evergreen state.

State Attorney General Bob Ferguson announced on Tuesday, January 20th, that he is partnering with two state senators to propose a bill that would exempt newspapers and certain online news outlets in Washington from the business and occupation tax.

Newspapers already pay a reduced business and occupation tax rate, but that rate is set to expire in July 2024.

Senate Bill 5199 would fully eliminate that tax for print newspapers and extend the exemption to online news outlets that serve the public.

Ferguson says the proposal is part of his ongoing commitment to defend and promote democracy, and to combat misinformation and extremism.

While the bill could save jobs and protect some news outlets, it is expected to reduce state revenues by around $1 million annually.