A bipartisan bill has been introduced in the U.S. House of Representatives that would revoke the tax-exempt status of certain sports leagues. The bill is aimed at the reported merger of the PGA and LIV Golf, a venture backed by Saudi Arabia. Introduced by Rep. Mike Thompson (D-CA) and Rep. Vern Buchanan (R-FL), the bill would disqualify leagues with annual gross receipts exceeding $1 billion during any of the preceding five years from receiving tax-exempt status. “We should be supporting local charities on Main Street, not foreign-backed professional sports organizations that are not dedicated to benefitting the American people,” Buchanan said. A similar proposal was put forth in the Senate.
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