NCAA's Tax Exempt Status in the Crosshairs

Must-read Michael McCann post about how the NCAA's tax exempt status hardly seems justifiable (given the educational mission of the NCAA, and the vast income from the March tournament--read his post for details). McCann quotes a tax expert saying, essentially, there isn't the political will to tackle the issue. Then McCann wonders if that might change after November's elections:

I wonder if impending political changes might change the equation here? With the Democratic Party seemingly poised to re-take control of the House of Representatives (especially in light of the apparent cover-up by GOP leaders on the Mark Foley cyber-molestation scandal), it's interesting to think about how a Democratically-controlled House of Representatives would investigate the NCAA. U.S. Representative Charles (Charlie) Rangel (D-NY), ranking member of the Ways and Means Committee, would likely become the Committee's Chairman, and given his background as a reformer and also someone particularly attune to the racial implications of rules and regulations (such as, perhaps, how the vast majority of college basketball and football players are African-American, how they produce the vast majority of revenue for the NCAA, and how they are denied any of that revenue while also being denied access to pro leagues--a separate, but obviously related issue), it might make for some interesting Congressional hearings in the years ahead.

With or without this Rangel angle, it's starting to seem like there could be a perfect storm of events conspiring to change basketball development in the U.S.A.