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[closed]Senators Seek to Stop Govt Subsidies for Sports Stadiums


boater

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An article, with many sources links within. Most recent link: Sen. Lankford touting a bill to kill stadium construction tax credits.

 

From Sen. Lankford:

 

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,” said Lankford. “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. I’m pleased to work with Senator Cory Booker to introduce this bill to eliminate the use of federal tax-exempt bonds for sports stadiums. Everyone likes free federal money to build their expensive stadiums, but with $20 trillion in federal debt, this is waste that needs to be eliminated.”

 

This bill is being advertised as bipartisan. I can easily see this being signed into law. Why? Because most of the 32 teams have built their signature palaces, so there is little political risk for the Senate in prohibiting future funding (as Fed. tax breaks) for stadiums. Everyone has their palace stadium, except Buffalo.. and whomever else.

 

Loss of Fed. tax credits associated with a new stadium could be a gift, or a kick in the teeth for WNY.

 

A gift:

  • because local tax payers wouldn't be crushed by the debt of new stadium
  • the NFL owners would back off of their insistence of a new Bills stadium

Or, a kick in the teeth:

  • NFL owners continue their insistence on a new Buffalo stadium; when Buffalo can't come through due to loss of Fed. tax credits, NFL future actions** would make the Bills uncompetitive financially, thus uncompetitive on the field, starting a chain of events forcing the them to move

Thoughts?

 

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** I don't know what the owners would do to penalize Bflo, but creativity driven by greed knows no bounds

 

 

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All it does is give Pegula more leverage. The stadium as it is right now is fine especially in a small market. Goodell is under a lot of pressure by the elite owners to generate more revenue despite their already obscene profits. They can all gft's imo.

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All it does is give Pegula more leverage. The stadium as it is right now is fine especially in a small market. Goodell is under a lot of pressure by the elite owners to generate more revenue despite their already obscene profits. They can all gft's imo.

Well said.. if New Era works, and Pegula is ok with it.. good.. screw the NFL .. Their greed is just over the top.. screw the Mara's, et all..

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