House Ways and Means Oversight Subcommittee Chair Bill Pascrell (D-NJ) recently sent letters to three college presidents following the schools’ hiring of head football coaches. He asked whether their contracts, which include multimillion-dollar salaries and incentives, violate the tax code. The schools are tax-exempt entities organized and operated for educational purposes. Income from the schools’ educational activities isn’t subject to federal tax. Pascrell states in his letters that it’s “unclear how such lucrative compensation” offered to the coaches aligns with the schools’ educational missions and benefits their students. To read a press release about the letters: https://bit.ly/3msLgL3