Pasco Reporter

Washington D.C. - Representatives Gus Bilirakis (R-FL), Yvette Clarke (D-NY), Greg Steube (R-FL), and Jimmy Panetta (D-CA) have introduced bipartisan legislation known as the Independent Programmers Tax Incentive Act (IPTIA). The purpose of this bill is to promote diversity and competition in the media industry by providing incentives for new and independent voices to thrive.

The global video market is projected to reach a value of $1 trillion or more by 2030. However, this growth has not been evenly distributed among programming creators. As a result, traditional media and online platforms have come to dominate the content being created and consumed by audiences. This concentration of media ownership has led to a reduction in the diversity of viewpoints, limited consumer choice, and the potential for biased coverage based on conflicts of interest.

The IPTIA aims to address these issues by creating a market-based incentive program that allows small and independent programmers to have their content seen by a wider audience. The bill proposes the implementation of an investment tax credit for the carriage of independent programmers by qualified multichannel video programming distributors.

Congressman Gus Bilirakis (R-FL) emphasized the importance of independent media ownership, stating, "Independent media ownership offers American TV viewers different viewpoints and ensures robust competition." He believes that the legislation will level the playing field and provide opportunities for independent entities to compete and thrive in the Pay TV industry.

Representative Yvette Clarke (D-NY) highlighted the significance of diversity in the media landscape. She stated, "We all know emphasizing diversity can create new opportunities, more competition, and level the playing field for independent programmers in the pay TV business." Clarke expressed her support for the tax credit, which incentivizes the carriage of more diverse TV programming, including on platforms such as YouTube TV, Hulu, and Sling.

Representative Greg Steube (R-FL) joined his colleagues in introducing the legislation, emphasizing the need to provide access to a greater variety of content providers. He believes that the bill will incentivize more competition in an industry currently dominated by a handful of large media companies.

Various industry leaders and organizations have also expressed their support for the IPTIA. Augusto Valdez, CEO of Kids Street, urged Congress to pass the legislation, stating, "Rather than change the entire industry, the IPTIA encourages Pay TV distributors to open up their channel lineups and platforms to competition, new ideas, and independent entrepreneurs, which will, in turn, help nurture a vibrant, competitive Pay TV industry."

Chris Ruddy, CEO of NewsMax, believes that the legislation is a win for consumers, independent programmers, and multichannel video programming distributors. He stated, "It is a win for consumers who will have access to more diverse voices on their cable systems, it is a win for independent programmers that will gain more access to subscribers, and it is a win for MVPDs and vMVPDs that will be able to offset ever-increasing costs with a new tax credit when they choose to carry independent voices."

The bill has garnered support from a wide range of co-sponsors, including Representatives Tony Cardenas (D-CA), Buddy Carter (R-GA), Kathy Castor (D-FL), Robin Kelly (D-IL), Carol Miller (R-WV), Maria Elvira Salazar (R-FL), Jan Schakowsky (D-IL), Darren Soto (D-FL), and David Valadao (R-CA).

With the introduction of the Independent Programmers Tax Incentive Act, Representatives Bilirakis, Clarke, Steube, and Panetta aim to promote competition, diversity, and independent voices in the media industry. The legislation's proposed tax credit for independent programmers is expected to create opportunities for growth and innovation, ultimately leading to a more vibrant and inclusive Pay TV landscape.

To learn more, click on this link: https://bilirakis.house.gov/media/press-releases/bilirakis-clarke-steube-and-panetta-bill-boost-competition-media