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September 11, 2013

Senator Takes Aim at Sports Leagues' Nonprofit Status in Tax Talks

Senator Tom Coburn is calling on Congress to revoke the nonprofit status of major professional sports organizations as it considers an overhaul of the U.S. tax code to eliminate longstanding breaks and cut the national debt, Bloomberg writes.

The Oklahoma Republican tweeted late last month about the tax exemptions for the National Football League, National Hockey League, and Professional Golfers' Association of America, and in a July letter to the chairman and ranking member of the Senate Finance Committee, he said tax-reform legislation should address the sports groups.

The leagues have successfully fought off past efforts to eliminate their 501(c)(6) status, but Bloomberg says such challenges may gain strength as Congress considers broad changes in the tax code. Repealing exemptions for certain pro leagues would add an estimated $109-million to federal revenue from 2014 to 2023, according to the congressional Joint Committee on Taxation.