Oklahoma Senator Going After Pro Sports Teams' Tax Exempt Status

Could professional sports help pay America's debt? Oklahoma Senator Tom Coburn thinks so.

Coburn is the force behind the Properly Reducing Overexemptions for Sports Act.

The papers says the National Football League is expected to make about $10 billion in profit this year, but won't have to pay federal taxes on any of it, because it's tax exempt, as are the National Hockey League and the Professional Golfers' Association.

Coburn estimates revoking that status would bring in more than $90 million more in taxes each year.

Read the amendment Coburn is proposing