Overview
The Wall Street Journal quoted George Callas in an article titled "MLB's Pitch to IRS: Let Us in on Tax Law's New Break." The article, published October 10, explains why Major League Baseball (MLB) team owners are fighting a proposed tax regulation that would deny baseball teams and other sports franchises a lucrative deduction they say they scored in last year's tax law.
Callas, who was the tax aide to House Speaker Paul Ryan, tells The Wall Street Journal that the tax law's effect on sports franchises received little attention as Congress debated the measure. Internally among lawmakers, the question of how the business deduction affected sports franchises came up late in the legislative process. "Many of us saw a sports franchise as a bona fide operating business that shouldn’t be caught up in the guardrails the same way an actual athlete would be," Callas says.
The full article can be read at The Wall Street Journal (subscription required).