U.S. Senator introduces bill to revoke PGA Tour’s tax-exempt status
WASHINGTON, DC: Two weeks after a Senate committee questioned PGA Tour officials about the circuit’s framework agreement with the Public Investment Fund of Saudi Arabia, a lawmaker has moved to revoke the Tour’s tax-exempt status.
Senator Ron Wyden (D-Ore.), the chair of the Senate’s finance committee, introduced two bills Wednesday, the Sports League Tax-Exempt Status Limitation Act and the Ending Tax Breaks for Massive Sovereign Wealth Funds Act.
“An organization that betrays its own word and agrees to become a profit generator for Saudi Arabia’s brutal regime has disqualified itself for a tax exemption,” Wyden said.
