• Sunday, February 19, 2012
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'NBC News' Examines Tax Breaks for College Sports

NBC Nightly News aired a segment last night exploring whether sports fans should be allowed to get tax breaks for certain athletics donations.

The piece, part of the “Fleecing of America” series, reported that athletics donors write off more than $100-million a year for luxury suites — a deduction some tax experts say should not be permitted. (On the Nightly News Web site, click on “Fleece: Suite Deal for Sports Fans.”)

The report singled out the University of Maryland at College Park and the University of Texas at Austin, two programs where wealthy corporate and individual donors have made large contributions and been allowed generous tax deductions.

Members of Congress are taking notice, said Rep. Xavier Becerra, a California Democrat and member of the powerful Ways and Means Committee.

“We like to make sure that the check is going to a good purpose that serves the general welfare of people in this country,” he told NBC. —Brad Wolverton