Georgia Public Radio reports:
Sen. David Perdue, R-Ga., privately pushed Treasury Secretary Steve Mnuchin to give wealthy sports owners a lucrative tax break last year, according to a previously unreported letter obtained by ProPublica. After the 2017 tax bill championed by President Donald Trump passed, Mnuchin and the Treasury had to write rules on how the legislation would work in practice.
Of the hundreds of pages of new regulations the agency developed, Perdue wrote about his concern with one extremely narrow rule: The owners of professional sports teams were being excluded from a valuable tax break being granted to many other businesses that are structured so that the companies don’t pay taxes but the owners do. “I hope you will reconsider,” Perdue wrote in the 2019 letter.
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