GOP tax bill hits college, pro sports

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The world of sports could be taking a big financial hit if the current version of the GOP tax reform bill passes.

Mark Walker (R-NC) introduced the Student-Athlete Equity Act, a bill that aims to hit the NCAA where it hurts the most: in the tax code. profile college sports, such as men’s basketball and.

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Tax bill could impact pro, college sports. The world of sports could be taking a big financial hit if the current version of the GOP tax reform bill passes. A plan by the Oakland Raiders to build a $2 billion stadium in Las Vegas next year is suddenly under review, thanks to an unlikely challenge from.

Bill Whalen. extended the high-earner taxes. “forty years ago, a more conservative electorate supported Proposition 13,” said Claremont mckenna college politics professor John J. Pitney, Jr. “That.

College Sports. Like the elimination of the deduction for income tax, that would affect wealthier suburbs in southwestern Connecticut more than the cities (click here to see how Connecticut towns have taken advantage of the income tax deduction).

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Senate Republicans. who pay tax on them on their personal returns under ordinary income tax rates. The House bill simply dropped the top income tax rate on pass-through income to 25% from 39.6%,

The new GOP tax bill will have a major impact on the finances of millions of Americans. At the last minute, lawmakers chose not eliminate some popular tax breaks that were previously on the block, including those used by teachers, college students, and patients with high medical bills.

The GOP tax reform bill released last week would bar state and local governments from issuing tax-exempt bonds for stadium construction, a common feature of stadium deals over the past two decades. It’s one of a few reforms in the bill that would affect the world of sports.

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Four-time letter winner at College of St. Rose, 1987-90. – Inducted into the St. Rose Hall of Fame in 2007. – First-Team NAIA All-American in 1990, District 31 Player of the Year. – Ranks in the.

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Republican leaders are racing to find support for their tax bill just hours ahead a critical vote, harkening back to the health care bill debacle this.