October 2, 2016

The feds' $3.2 billion subsidy of sports stadiums

Planetizen -  [A] new paper by [a] Brookings team finds 35 examples of tax-exempt bond financing of professional sports stadiums since 2000. 
All together, the federal government has subsidized newly constructed or majorly renovated professional sports stadiums to the tune of $3.2 billion federal taxpayer dollars since 2000. But because high-income bond holders receive a windfall gain for holding municipal bonds, the resulting loss in total revenue to the federal government is even larger at $3.7 billion

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