Republican Senator Reintroduces Bill That Takes Aim at NIL’s Recruiting Influence
Sports Illustrated – September 14, 2022
One of the most powerful Republicans in the U.S. Senate is reintroducing a bill to govern name, image and likeness (NIL) that would “preserve the unique amateur nature of college sports,” he says. His legislation would legalize college athlete NIL by using a national standard of rules that prohibits boosters and schools from utilizing NIL in recruiting. The bill gives antitrust protection to the NCAA, schools and conferences in two ways. It prohibits former athletes from suing for retroactive NIL, and it explicitly notes college athletes should not be considered employees. The NCAA is fighting two ongoing court cases based on both of these elements.
Conservatives’ ire over stopgap spending presages budget wars to come
Roll Call – September 16, 2022
Rising GOP pushback against a short-term stopgap funding bill into December that would pave the way for a lame-duck omnibus package is at minimum a political headache for party leaders, and at worst points to market-rattling brinkmanship around fiscal deadlines next year. A small group of Senate Republicans and larger number of conservatives in the House backed by former President Donald Trump are opposing the general plan to run a continuing resolution to mid-December. Their general view is that the House at least will change hands, with the Senate a possibility as well, and final decisions on fiscal 2023 spending should wait until early next year when the new majority is seated.
Senate advances $6.5 billion Taiwan military aid bill
Defense News – September 14, 2022
The Senate on Wednesday advanced a sprawling bill that would give Taiwan the same benefits as major non-NATO allies, provide $6.5 billion in military aid, expedite arms sales and prioritize the transfer of excess U.S. defense articles there.
Railroad strike averted after marathon talks reach tentative deal
CNN – September 15, 2022
Unions and management reached a tentative deal early Thursday, averting a freight railroad strike that had threatened to cripple US supply chains and push prices higher for many goods. The deal with unions representing more than 50,000 engineers and conductors. A statement from the White House, called it "an important win for our economy and the American people."
New Bill Targets Endowments
Inside Higher Ed – August 30, 2022
Federal legislation would require public and private colleges with endowments over $1 billion to cover between 25 and 75 percent of all students’ cost of attendance. Higher ed experts say colleges won’t be able to do that, given strict rules around endowment spending. The COLLEGE Act (S. 4772), requires institutions of higher education participating in Federal financial aid programs to pay a percentage of the cost of attendance for each enrolled full-time student, based on the endowment fund of the institution. Text here and press release here. Press release here.
Nearly half of US governors, all Republican, demand Biden withdraw student loan forgiveness
USA Today – September 15, 2022
Twenty-two Republican governors have signed a letter sent to President Joe Biden calling on him to withdraw his student loan forgiveness plan. Those that signed the letter stated that as governors, they support making higher education more affordable and accessible for students in their states, but they fundamentally oppose Biden’s plan to force American taxpayers to pay off the student loan debt of an elite few—a plan that is estimated to cost the American taxpayer more than $2,000 each or $600 billion total, a price the people of our states cannot afford. Letter here.
Which States Tax Student Loan Forgiveness, and Why Is It So Complicated?
Tax Policy Center – September 15, 2022
The Biden administration’s plan for broad-based student loan forgiveness of up to $20,000 per individual won’t affect borrowers’ federal tax bills, but it could have state tax implications for some.
While many states will follow the federal lead and not treat forgiven student loans as earned income, some could take a different path. At this time, four states plan to treat forgiven student loans as income, while three states are reviewing their tax rules.