The NFL league owners who have been enjoying their luxurious taxpayer aid for building huge stadiums and pro-teams over the years are about to take a serious hit from House Republicans’ new tax overhaul.
The new GOP plan under President Trump will prohibit professional sports stadiums from taking advantage of the little guys from now on.
This includes no more breaks on tax-exempt bonds, which state and local governments often float for important public works projects.
This sort of tax break would save Americans over $200 million in the next decade alone.
Despite pro sports teams taking advantage of the huge tax credit in the past, the NFL has now come over some intense scrutiny for the repetitive protests by this years players during the national anthem, and things are about to change big time.
Reported by libertywriters:
Who knew taxes could be so fun? Certainly not me. Usually taxes are like a brutal trip to the dentist,
But not with Trump leading this great nation.
The GOP tax bill – and I know they still have to get it signed in a do-nothing Congress and that is easier said than done.
But the GOP seems to be together and the tax plan looks to be a slam dunk.
In one stunning move, Trump followed through on his promise to get rid of the Johnson amendment that prohibited Churches from engaging in politics.
And delivered for the middle class like Obama never could or would.
But it gets better.
Because, after threatening and promising he may do it, Trump hit the NFL where it hurts.
In their taxpayer funded luxury stadiums that allow them to reap enormous profits while taxpayers foot the bill.
It is a terrible scam and Trump just ended it.
Closed the huge loophole the NFL and other sports owners use to blackmail local populations.
According to the Washington Times, the tax bill will “prohibit professional sports stadiums from taking advantage of tax-exempt bonds, which state and local governments often float for important public works projects.”
In other words the taxpayer funded gravy train is over.
Huge jump from the lower tax level to the next middle class level will leave some “middle class taxpayers” actually paying more in taxes. The jump from 15% to 25% with no break in between is huge. This represents a huge part of our population and I find that quite disappointing. Didn’t see any info on tax structure for the self employed middle class and the business structures
Get a bookkeeper to explain all of this to you or go back to fourth grade math for the classes you missed. DO NOT ask a liberal?