Ways and Means hearing shows continued bipartisan interest in removing tax breaks for sports teams

On June 30, 2026, the House Ways and Means Committee held a nearly four-hour hearing titled, "The Growing Business of Sports: Reviewing Federal Tax Policy in the Multibillion-Dollar Industry." The hearing featured sharp bipartisan criticism of two key federal tax benefits that flow to the professional sports industry: the use of tax-exempt municipal bonds to finance stadium construction, and the ability of franchise purchasers to amortize the full cost of intangible assets under Section 197 of... By: Hogan Lovells Cadwalader