GOP Sen. Richard Burr calls for scholarship tax after NCAA votes to allow college athletes to get endorsements


The NCAA voted Tuesday to allow college athletes to profit from their name, image, and likeness, a historic decision that will give elite athletes significant earning potential while in college.

Republican Sen. Richard Burr of North Carolina took notice and immediately announced his intention to create legislation that would tax the scholarships of any athlete who profits from the NCAA’s rule change.

“If college athletes are going to make money off their likenesses while in school, their scholarships should be treated like income,” Burr wrote on Twitter. “I’ll be introducing legislation that subjects scholarships given to athletes who choose to ‘cash in’ to income taxes.”

Burr’s eagerness to tax student-athletes literally as soon as he found out they would soon be able to profit on their own names (which often generate significant income for universities) was not well received. – READ MORE

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