Congress ‘fumbles’ NIL college sports bill
Pakinomist Chief Congressional Correspondent Chad Pergram reports on House Minority Leader Hakeem Jeffries questioning a NIL bill’s link to an LSU coaching controversy and more on the ‘Special Report.’
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EXCLUSIVE: Sens. Marsha Blackburn, R-Tenn., and Maria Cantwell, D-Wash., plan to fight for college athletes to help secure their future by investing their name, image and equity earnings.
Blackburn and Cantwell introduced the Helping Undergraduate Students Thrive With Long-Term Earnings (HUSTLE) Act, according to a release obtained by Pakinomist Digital. The senators said college athletes would be given the ability to put money into “tax-advantaged student-athlete investment accounts, require administrators to provide financial education and establish rules to prevent abuse.”
The senators promised that the HUSTLE Act would also help college athletes improve their financial skills and better navigate the Wild West of the NIL.
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Virginia offensive lineman Drake Metcalf (60) reacts during the first half of the Atlantic Coast Conference championship NCAA college football game against Duke, Saturday, Dec. 6, 2025, in Charlotte, North Carolina. (AP Photo/Jacob Kupferman)
“College athletes now make billions of dollars off their name, image and likeness – and rightfully so. We must empower these students to secure their financial futures and protect themselves from rogue agents,” Blackburn said in a statement. “The HUSTLE Act would allow college athletes to invest their earnings in a tax-advantaged account that grows over time, strengthen financial education and create safeguards to prevent exploitation by dishonest agents.”
Cantwell hoped that college athletes would no longer be taken advantage of by “unscrupulous agents.”
“This bill focuses on the financial safety and security of college athletes who — finally — earn compensation for their name, image and likeness (NIL),” Cantwell added. “Many of these athletes will be in a unique situation where they will earn NIL income during a relatively short period of their career. Our bill would create a specific NIL account where they can set aside some of that income and build long-term savings.
Sen. Marsha Blackburn, R-Tenn., speaks as U.S. Attorney General Pam Bondi testifies before the Senate Judiciary Committee in the Hart Senate Office Building on Capitol Hill on October 7, 2025 in Washington, DC (Win McNamee/Getty Images)
“The bill would also protect athletes and their NIL earnings from financial exploitation by unscrupulous agents. As athletes have been able to earn NIL, some have fallen victim to agents who have charged shockingly high commissions or attempted to take ownership of the athlete’s intellectual property rights. Our bill would require a state to register these an agent.”
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Under the HUSTLE Act, college athletes will be able to use NIL earnings up to the annual gift tax exclusion amount into a NIL investment account, allowing their funds to grow tax-free. The bill would allow up to $35,000 in unused NIL account funds to be transferred to an IRA or retirement account after the athlete has been out of college athletics for at least one year.
Trustees would be required to provide financial education to ensure athletes know how to manage their money. The HUSTLE Act would also direct the Treasury Department to draft rules to prevent abuse and exploitation, report and track contribution limits, and define other expenses.
Late. Ted Cruz, R-Texas, left, and Sen. Maria Cantwell, D-Wash., during a confirmation hearing in Washington, DC, Wednesday, Dec. 3, 2025. (Graeme Sloan/Bloomberg via Getty Images)
The HUSTLE Act will also update the Sports Agent Responsibility and Trust Act. Athlete agents must register with a state before they can represent athletes in NIL agreements. Agent fees will be limited to 5% and confirm their registration with the athletic association that governs the athlete’s sport.
Deceptive practices would be banned and national governing bodies would be required to compile an online register of registered and certified athlete agents to increase transparency for athletes and their families.
SEC Commissioner Greg Sankey was among those who supported the HUSTLE Act.
“The Southeastern Conference is grateful for the legislators’ continued commitment to meeting the changing needs of student-athletes,” he said in a statement. “The HUSTLE Act represents a constructive approach by establishing tax-advantaged NIL investment accounts that encourage financial education, long-term savings and responsible management of earnings.
UConn guard Azzi Fudd (35) drives to the basket as DePaul guard Devin Hagemann (7) defends during the first half of an NCAA college basketball game Sunday, Dec. 7, 2025, in Storrs, Connecticut. (AP Photo/Jessica Hill)
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“We appreciate Congress’ continued commitment to developing national, consistent standards that support student-athletes and improve their opportunities in this rapidly changing environment.”
