Recently proposed NIL bills in Congress could have a crippling effect on HBCU sports.
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00:00 Oh, Lord, that's four year old.
00:02 Okay.
00:03 So basically, if we deem, if it was, if the student athletes were deemed as employees,
00:12 we know that about 80% of our students-
00:16 Employees of their institutions.
00:17 Of their institutions.
00:19 Okay.
00:20 We know that 80% of our students who attend HBCUs are on some type of financial aid, federal
00:28 grant, et cetera.
00:31 So if they are employee, they will have to pay taxes on that.
00:38 So if they're already on some type of aid, then they're going to have to get a loan to
00:43 pay those taxes on the salary that they're getting now.
00:49 Okay.
00:51 And then the institution has to find money to pay the taxes on, you know, for those student
00:57 athletes as well.
01:00 When you look at when our institutions are already underfunded.
01:08 So having to pay student athletes, the taxes on top of that, we're going to start to have
01:14 to eliminate, institutions will have to eliminate sports.
01:18 And we know that the elimination of sports is going to happen on the Olympic side first.
01:23 then ultimately we're not going to be able to afford that.