Posts Tagged ‘Sen. Charles Grassley’

THE NCAA GETS HAMMERED AGAIN

May 20, 2009

 

The NCAA continues to take a pounding from Congress. Now, the governing body of college athletics is having its tax exempt status challenged-a move that could cost the organization hundreds of millions of dollars in taxes.

Sen. Charles Grassley, (R-Iowa), said,

 

“Colleges should explain how they use their commercial revenue to get the biggest bang for the buck in fulfillment of their educational mission.”

 

Grassley is the ranking Republican on the Senate Finance Committee. He quoted a report by the Congressional Budget Office which studied whether the NCAA should be allowed to keep its tax exempt status and how much money the federal government would bring in if it were stripped.

The latest round of bad news comes following the NCAA’s disastrous appearance before Congress earlier this month and a seperate judge’s ruling finding the organization in contempt of court.