The NFL is the most profitable sports league on the planet and brought in over $9 billion in revenue from the 2013 season and this season there is no reason why the league couldn’t bring in even more revenue than in 2013. The NFL also just happens to qualify for the nonprofit status along with the NHL, which helps them dodge millions of dollars in taxes. New Jersey’s Junior U.S Senator Cory Booker (D) is looking to change that, he introduced a bill on Tuesday that would remove the NFL’s tax-exempt status and allocate those funds toward domestic abuse prevention programs instead, NJ.com reported.
“Stopping domestic violence is a national priority that requires long-term, meaningful investment,” Booker said in a statement. “This common sense update to our tax laws would save more than $100 million over 10 years — money that can instead be used to pay for vital support programs that have seen their funding slashed in recent years due to sequestration and gridlock.”
U.S Senator Tom Coburn (R-Oklahoma) also supports ending the nonprofit status of the NFL. “Taxpayers are losing $10 million a year subsidizing these tax loopholes for professional sports leagues that generate billions of dollars annually in profits,” Sen. Coburn told CNBC on Saturday. He sponsored 2013’s “PRO Sports Act,” which would repeal tax-exempt status for certain professional sports leagues. The bill is currently in the Finance Committee.
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