The Senate Republican tax bill would eliminate nonprofit status for professional sports leagues, subjecting several big-time leagues to new taxes.
That provision of the sprawling tax overhaul released Thursday night wouldn't be a major revenue-raiser: It would only increase taxes by about $100 million over 10 years, according to Congress' official estimates.
League offices, like the ones for professional golf and tennis, are organized as nonprofits. The National Football League, which has recently come under scrutiny from President Trump, is not, having given up its tax-exempt status in 2015.
While the Senate GOP took aim at league offices, it left out a bigger tax hike on professional sports that was included in the House version of the bill, namely disallowing tax breaks for public bonds used to finance stadiums.
Big-time college sports would still take a hit under the Senate bill, which has the same provisions as the House bill that would crimp multimillion-dollar coach salaries.