The Protect College Sports Act moved closer to becoming federal law Monday night as the U.S. Senate voted 77-22 to pass the legislation. The bill is intended to reshape the college sports industry and now advances to the House of Representatives.

Its path through the House includes opposition from both sides of the political spectrum and a limited window for approval. House representatives are not scheduled to vote on bills until after November's midterm elections.

If the legislation does not clear the House during a lame duck session before a new Congress begins in January, the process would have to restart. The House is scheduled to begin its next legislative session Nov. 9 and vote on laws for five weeks in November and December.

Sen. Ted Cruz, R-Texas, said supporters wanted the Senate vote to demonstrate broad backing for the legislation. "From the beginning, our objective was not to squeak by with 60 or 61 votes but to have a big bipartisan vote that demonstrates the importance of stepping in and saving and preserving college sports," Cruz told reporters Monday night.

Trump's Sovereign Wealth Fund: What Could It Mean For Your Money?

Cruz also said, "President Trump is eager to sign this legislation." NCAA president Charlie Baker credited athletes from all three NCAA Divisions with helping the bill advance through the Senate.

The PCSA would give the NCAA an antitrust exemption designed to help the association enforce a cap on payments from teams to athletes, along with other rules weakened by recent legal challenges. Athletes would be permitted to transfer once without penalty during their college careers.

The legislation also would reinforce NCAA rules limiting athletes to a five year window in which to compete. That window begins when athletes finish high school or turn 19 years old.

Senators considered seven amendments before the final vote. Lawmakers voted 52-47 against a provision that would have capped school payments to coaches at $5 million annually and restricted how frequently coaches could change jobs.

FREE Gun Law Map: Laws Don't Pause During Social Unrest

Sen. Cory Booker, D-N.J., opposed the legislation and supported applying its restrictions to coaches. "If the bill supporters believe these rules are necessary for athletes, they should be willing to apply them to coaches, as well," Booker said. "This bill sells out college athletes."

Another part of the bill addresses conference realignment by limiting Power 4 conferences to 20 schools. The Big Ten has 18 schools, while the SEC has 16.

A school moving between Power 4 conferences would be required to spend three years without a conference affiliation before entering another one. That waiting period is scheduled to expire at the end of 2031, around when television rights agreements holding together many conferences begin to expire.

The Big Ten and SEC successfully lobbied in August for a provision raising the amount schools can pay players directly. The current cap, created through the House settlement resolving several federal antitrust lawsuits, permits schools to spend roughly $21.5 million this year.

Under the bill, that figure would rise to roughly $49 million, with $5 million reserved for nonrevenue and Olympic sports. Cruz and Sen. Maria Cantwell, D-Wash., said the legislation would be more effective at stopping teams from circumventing the cap.

Cantwell said her objective was to control the "runaway arms race" in college sports spending, particularly in college football. The measure does not cap spending on salaries for coaches and administrators, facility improvements or other expenses that have increased sharply during the past 20 years.

"There is more to do, but we need to pass a bill tonight because we need to stop stealing money out of colleges and universities for tuitions, for professors, and putting it into an arms race on sports," Cantwell said on the Senate floor. She described the measure as an attempt to stabilize losses affecting women's and Olympic sports while allowing further discussion about college sports' structure.

Approved amendments require athletic departments to disclose investments accepted from foreign governments or sovereign wealth funds. They also raised the power conference team limit from 19 to 20 and preserved the ability of athletes and their families to sue schools over issues including sexual misconduct and wrongful death claims.

An amendment from Booker seeking to increase a major injury medical care fund for former athletes from $100 million to $200 million fell one vote short. Booker also objected that some protections for women's sports programs expire after nine years, while the NCAA's antitrust exemption does not expire.

Supporters include most Division I conferences and view the legislation as a reset while the highest level of college sports becomes a more professional enterprise. Opponents include the AFL-CIO and groups seeking to organize athletes into labor unions, which favor stability through collective bargaining agreements.

The PCSA remains neutral on whether college athletes are employees, an issue identified as a significant obstacle in the House. Sen. Eric Schmitt, R-Mo., said expiration dates for some provisions and a commission studying college sports could leave room for a different system in the future.

"This calms the water and provides real structure," Schmitt told ESPN. "Down the road, there could be a different structure that Congress or the conferences agree on."

The opinions expressed by contributors and/or content partners are their own and do not necessarily reflect the views of Objectivist. Contact us for guidelines on submitting your own commentary.