I still think it’s a waste, but here is some more detail from Sen. Ben Cardin himself about his Newspaper nonprofit plan. Basically I guess he wants to create a loophole where a paper can become a 501c3 and accept ad revenue exempt from taxes. That sounds… like a bad idea. Cardin says its targeted to local papers, but there’s nothing stopping a paper like the NY Times from doing it. And why should papers, unlike other outlets, have their income exempt from taxes? DOA.