The NFL is not a big fan of recent Republican tax reform proposals that cancel the billions that teams get in tax subsidies to build and operate sports stadiums across the country, a report says.
The tax proposal would eliminate the big tax breaks cities and states receive on money borrowed to build stadiums meant to entice or prevent sports franchises from moving to another city.
“The proposed tax bill would target the tax exemption on municipal bonds,” Pro Football Talk wrote, “and those bonds have become a key piece of the $750 million in public funding that will build a new stadium for the Raiders in Las Vegas.”
But the tax reform idea does not sit well with the National Football League, according to Pro Football Talk.
“We believe that the construction of new stadiums and renovations of stadiums are economic drivers in local communities,” said NFL spokesman Joe Lockhart. “If the idea is to promote economic growth, this would be a step backwards.”
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Owners and players can come off with some money
ReplyDeleteTough #@*+
ReplyDeleteJust like PBS they need to stand (or fall) on their own.
ReplyDeleteI am sure they only source local labor and material. /sarc
ReplyDeleteGood!! Anything that makes them unhappy is a good thing .
ReplyDeleteI remember when both Camden Yards and M&T Bank Stadiums were being built the governor argued what a great economic boom Baltimore would get out of this project. At the time Clayton Mitchell was the Speaker of the House in Annapolis. I remember him telling a group at the Galena Lions club meeting " the increased tax revenue wouldn't even come close to paying the interest on the bonds. He was absolutely right. Now the state has to use the lottery to pay off the bonds. Remember back in the 70's we were sold the lottery idea as more funding for Maryland Education. Look closely at a lottery ticket. It plainly states Maryland Stadium Authority. Cities need to take a closer look at how ProPlayer Stadium in Miami was built. All done with private funds and no cost to the tax payers.
ReplyDeleteThe NFL can eat it. Who cares?
ReplyDeleteGet em Donald , see if this brings them to their knees
ReplyDeleteTaxpayer subsidies given to billionaires. The typical taxpayer seems to be just a piggy bank for the wealthy who refuse to spend their own money. Any profits need to go first and foremost back to the taxpayer with interest.
ReplyDeleteThe politicians who allowed these types of payoff and waste of taxpayer money should have all their property forfeited as an example of misuse of taxpayer money.
“We believe that the construction of new stadiums and renovations of stadiums are economic drivers in local communities...”
ReplyDeleteNo they are not. New and renovated stadiums are economic drivers for NFL owners. Local communities pick up the slack when the attendance doesn't meet projections (pretty much always).
That economic growth engine is sold to the highest bidder, and the buyer is ultimately the taxpayers, even the ones not benefiting from the stadium's construction.
ReplyDeleteso what...
ReplyDeleteThe Democrats are against this tax reform proposal but screams about giving the rich tax breaks. Imagine that Democrats wants it both ways.
ReplyDelete1:29 now that's something I believe in!
ReplyDeleteIt's a good plan let millionaires and billionaires pay for there own business the government doesn't pay for anything in my business and I'm sure not a millionaire
ReplyDeleteBillionaires have most money out of country and in trusts, estates, shell companies etc. Bernie likes Trumps tax program for everyone except the ultra rich therefore it's a NO for him? Bernie and the rest are ALL SCAM ARTISTS. However that being said democrats were voted into two states. jeff Sessions better get off his cowardly butt and do something! Anything! I will not watch anything involving politics anymore unless a Democrat is getting arrested. Bernie pays 13 percent but want YOU TO PAY 70.
ReplyDeleteThe billionaire team owners will pay off every one of our corrupt US Senators, before they let that happen.
ReplyDelete