Daily Signal:
Two senators are calling foul on government subsidies for professional sports stadiums.
Sens. James Lankford, R- Okla., and Cory Booker, D – N.J., introduced a bill Tuesday named “Eliminating Federal Tax Subsidies for Stadiums Act”.
“The federal government is responsible for a lot of important functions, but financing sports stadiums for multi-million—sometimes billion—dollar franchises is definitely not one of them,” Lankford said in a statement. “Using billions of federal taxpayer dollars for the subsidization of private stadiums when we have real infrastructure needs in our country is not a good way to prioritize a limited amount of funds.”
According to a press release from Lankford’s office, “The bill would close a loophole in the tax code that allows professional sports teams to finance new stadiums with municipal bonds that are exempt from federal taxes.” more here
End the exemption for Professional Sports.
Billionaire owners with Billion dollar payrolls for athletes can fund their own projects without federal Tax subsidies.
That’s actually a great idea. Ridiculous that our tax dollars go to these billionaires
This will hurt black millionaires.
Good. That’ll kill any chance of the Globalympics ever coming back to America.
CORY BOOKER!!!!! About once every two years that guy acts like a conservative
wait …. isn’t this just a ploy to get the feds more money?
I noticed they aren’t going after the fed tax break that EVERY NFL team has in not paying taxes!
… the big crook doesn’t like it when the little crooks don’t pay the big crook
It’s about time!
first question: why shouldn’t municipal bonds be exempt from fed taxes?
second question: why does the feds exempt NFL teams from fed taxes to begin with?
… the big crook does not like it when the little crook does not pay the big crook it’s ‘fair share’
We pick up the tab so these lowfo mofos can send money to the democrat party.
It’s about time.
End any federal subsidy on ANY sport that is a privatized business.
Just like every case of “crony capitalism” (banks and sports), privatize the profits, socialize the losses.
Just a shot across the bow. When will you people wise up? Just a ploy to get more lobbying to generate funds for reelection. “You got some nice stadiums there, it would be a shame if someting’ happened to them!”
Federal, State, Local Gov’ts AND taxpayers should NEVER have to support a stadium. Tickets are sky high, parking is high, concessions are even worse. True story, I mixed audio for many Seahawks games and one night as I was gathering up my equipment, I walked by a food prep area. The empoyees were stripping the hot dogs out of the buns, tossing the buns and putting the hot dogs in a container of water. Disgusting.