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Actually the federal government underwrites these stadium deals through the tax code. https://www.brookings.edu/blog/brookings-now/2016/09/09/top-10-biggest-fe
by ckinnan 9y ago
Actually the federal government underwrites these stadium deals through the tax code.
https://www.brookings.edu/blog/brookings-now/2016/09/09/top-10-biggest-federal-subsidies-for-pro-stadiums-hint-the-yankees-are-1/ https://www.brookings.edu/blog/brookings-now/2016/09/09/top-...
- prostoalex 9y agoYep, everybody is paying for them whether or not they're into sports http://investigations.blog.ajc.com/2016/09/12/report-tax-free-stadium-bonds-cost-taxpayers-3-7-billion/ http://investigations.blog.ajc.com/2016/09/12/report-tax-fre...
- jstelly 9y agoI agree that everyone is paying for them via the tax incentives. But I think the media portrayal is often incorrect about who benefits. The benefits of tax-exempt bonds are split between the municipality issuing them and the high-income individuals buying them. But most of the gain is captured by the municipality (because the high-income people would be getting a lot more interest in a taxable investment so the municipality would have to pay a lot more interest to raise money if they had to compete with those investments).