U.S. SENATORS KATIE BRITT, RAPHAEL WARNOCK INTRODUCE BIPARTISAN LEGISLATION TO LEVEL THE PLAYING FIELD FOR ATLANTA BRAVES, OTHER PUBLICLY TRADED SPORTS TEAMS

WASHINGTON, Oct. 6 -- Sen. Katie Britt issued the following press release:

WASHINGTON, D.C.- U.S. Senators Katie Britt (R-Ala.) and Raphael Warnock (D-Ga.) introducedbipartisan legislationto address disparities in the tax treatment of publicly traded and privately owned sports teams. The legislation would update the tax code to ensure publicly traded professional sports teams receive the same tax treatment as privately owned teams when accounting for compensation paid to players, coaches, and team managers.

"Beginning next year, a tax law signed in 2021 will expand to include a public company's five highest-paid employees beyond its senior executives. For publicly traded professional sports organizations like the Atlanta Braves, this mean...