WASHINGTON, Dec. 9 -- Sen. John Cornyn issued the following news release:
U.S. Senator John Cornyn (R-TX) cosponsored the Helping Undergraduate Students Thrive with Long-Term Earnings (HUSTLE) Act, which would create first-of-its kind name, image, and likeness (NIL) tax-advantaged investment accounts for student athletes, require trustees to provide financial education, and establish regulations to prevent abuse by athlete agents:
"Since the Supreme Court's decision in 2021, college athletics has rapidly evolved into a complex industry that gives students unprecedented earning power but lacks the guardrails to prepare them for financial success after graduation," said Sen. Cornyn. "The HUSTLE Act would optimize investment opportunities an...