Bills Currently Winding Their Way Through Congress On Eliminating Sports Federal Tax Subsidies

Bills Currently Winding Their Way Through Congress On Eliminating Sports Federal Tax Subsidies Senate Bill 1342 submitted June 12, 2017 and House Bill 811 submitted February 1, 2017 are tax subsidy reform measures that amends the Internal Revenue Code, with respect to the tax exemption requirements for state and local bonds, to specify that bonds issued to finance professional sports stadiums meet the private security or payment test. (A state or local bond that satisfies both the private business use test and the private security or payment test is considered a private activity bond that is taxable unless it is … Continue reading

Did CAIR Flout Tax Laws (Again)?

The Council on American-Islamic Relations (CAIR) may have violated its tax-exempt status under IRS code 501 (c)(3) by calling for Dr. Ben Carson to quit his presidential bid. CAIR executive director, Nihad Awad, called on Carson to end his White House bid during a press conference last Monday.  “We ask Mr. Ben Carson to withdraw from the presidential race because he’s unfit to lead because his views are in contradiction with the United States Constitution,” Awad said. Awad made his demand in response to Dr. Carson’s statement during an appearance on NBC’s Meet the Press, where Carson said he would … Continue reading