GOP tax bill hits college, pro sports

How will the GOP tax bill affect you? Republicans are expected to push through their $1.5 trillion tax package, delivering it to President Donald Trump As for the winners, oil drillers would also benefit. So would multimillionaire and billionaire owners of sports teams. Companies would enjoy a bounty from.

WASHINGTON (AP) – The GOP tax reform bill released last week would eliminate federal subsidies for new stadiums. It’s one of several aspects of the bill that would touch the world of sports.

As the GOP begins to move its tax reform plan, known as the Tax Cut and Jobs Act, through Congress, sports teams could lose big if the bill passes. GOP tax bill’s big losers: nfl, and other sports.

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GOP tax bill hits college, pro sports November 02, 2017 6:27 PM. Where Holding sees a pathway toward renewed optimism and increased economic growth in the Republican plan to lower rates on.

Here’s how the bill may alter other industries. IMPACT: The GOP tax. rely on tax-free bonds for their contributions to the new construction and renovation of sports venues – often a condition of.

Now that Republicans. the professional level, the bill keeps a provision that allows the use of tax-exempt bonds for stadium projects. It would have been eliminated under the House version. Since.

GOP tax bill would have impact on pro, college sports. WASHINGTON (AP) – The Oakland Raiders decided to move to Las Vegas largely because Clark County, Nevada, agreed to finance a new stadium with $750 million in tax-exempt bonds. Now, that tax exemption could be going away, leaving the county on the hook for even more money. The GOP tax reform.

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K Fund donations may no longer be tax deductible with new GOP bill. This will be a major hit to college athletic departments – and financing pro stadiums – if it passes. The news story notes donations to college athletic departments and related booster clubs totaled $1.2 billion in 2015. It will also hit you, the fans, because that tax deduction is a nice little perk.

Pro athletes hit by GOP’s tax bill 1:49 PM ET Mon, 18 Dec 2017 CNBC’s Eric Chemi reports that professional athletes could see a financial hit if Congress passes the GOP tax overhaul bill.