Costly loss for sports team owners embedded in Trump tax bill

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Costly loss for sports team owners embedded in Trump tax bill

//travel-leisure.news-articles.net/content/2025/ .. orts-team-owners-embedded-in-trump-tax-bill.html

Published in Travel and Leisure on Saturday, May 17th 2025 at 12:06 GMT by Fortune
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

A lucrative tax break that sports team owners can use to shelter billions of dollars of income would be halved in value under House Republicans' draft legislation.

The article from Fortune, published on May 17, 2025, discusses a proposed tax bill backed by former President Donald Trump that aims to benefit sports team owners. The bill, supported by House Republicans, seeks to amend the tax code to allow sports franchise owners to deduct the full value of their teams from their taxable income. This move is seen as a significant financial advantage for team owners, potentially saving them millions in taxes. Critics argue that the bill favors wealthy individuals and could lead to increased public funding for sports facilities, as owners might use the tax savings to lobby for new stadiums. The proposal has sparked debate in Congress, with Democrats opposing it on grounds of fairness and fiscal responsibility.

Read the Full Fortune Article at:
[ https://fortune.com/2025/05/17/trump-tax-bill-sports-team-owners-congress-house-republicans/ ]