NFL Opposes Proposed GOP Tax Plan On Basis of Stadium Funding
The NFL has opposed the tax bill proposed by U.S. House of Representatives Republicans that could force teams to front more money for stadium construction, Reuters reports.
According to Reuters, under the proposed bill, local governments won't be able to use tax-exempt, public-purpose bonds to fund the construction or renovation of stadiums. Those bonds are often use to fund public works projects, such as transit and schools.
“You can look around the country and see the economic development that’s generated from some of these stadiums,” NFL spokesman Joe Lockhart said, according to Reuters. “These sorts of infrastructure projects have a long history and the benefits of them are obvious in many of our communities around the country, so we will continue to make our opposition known on that.”
But many economists dispute the idea that cities and localities benefit from taxpayer-funded stadiums.
President Donald Trump has taken shots at the NFL this year regarding some of its players protesting racial inequality during the national anthem. Trump has proposed ending subsidies for stadiums, as did his predecessor, Barack Obama.
