It looks like Congress is taking steps to end some of the special tax breaks and subsidies for major sports leagues in its tax reform package.
Professional sports leagues like the NFL enjoy tax exemptions on the municipal bonds that are used to build their stadiums. A provision in Sec. 3604 eliminates this perk. If sports teams want to build new stadiums, they’re now going to pay federal taxes to do it.
No tax exempt bonds for professional stadiums. pic.twitter.com/MkALqF8Uyn
— Phil Kerpen (@kerpen) November 2, 2017
These municipal bond exemptions aren’t the only tax breaks carved out for the NFL in the current tax code. On Wednesday, CRTV White House correspondent Jon Miller highlighted the special tax breaks the NFL receives and pointed out how they shouldn’t be getting them if some players want to disrespect the national anthem and flag.
Getting rid of the municipal bond tax exemptions is a great start to making sure taxpayers aren’t subsidizing a politicized NFL.
(First reported by Conservative Review) https://www.conservativereview.com/articles/nfl-kneelers-lose-big-tax-subsidy-in-gop-tax-plan (November 3, 2017)
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