Professional sports leagues like the National Football League and the National Hockey League are getting swept up in the move towards tax reform in Congress. Two bills introduced in the the House and the Senate would take away the leagues' non-profit tax exempt status. Currently, the team franchises are taxable, but the leagues themselves are not.
Rep. Jason Chaffetz
Patent trolls, companies that don't produce or manufacture products, but make a living buying up patents in order to sue other companies, may not have long to prosper—if Congress can figure out a way to stop them.
This could be the year Congress takes serious action against patent trolls, non-practicing entities that buy up patents and virtually extort companies to pay up for violating frivolous patents.
A bill to lower music performance royalties for Internet radio is probably dead on arrival in Congress unless traditional broadcasters that have never paid a penny to musicians are asked to pay up.
Pandora has become the poster child in the fight over royalties for music streamed over the Internet. As the debate heats up in advance of a House Judiciary hearing at the end of the month, more than 125 musicians and singers signed an open letter that will be published in the Nov.
Internet radio services like Pandora may be popular, but they haven't been profitable, largely because of crippling music royalties. Hoping to turn around a lousy business model, Pandora and Clear Channel—along with 11 other Internet radio companies and trade associations—have formed the Internet Radio Fairness Coalition.