Scoreboard: What If Congress Nixed Federal Stadium Subsidy? (Corrected)
What would happen if Congress eliminated a popular federal tax break used to build sports stadiums?
A bipartisan group of House and Senate lawmakers want Congress to take a second look at recently reintroduced legislation that would eliminate the tax exemption for municipal bonds used to finance construction of professional sports stadiums. The issue has been a hot topic of late, with Nevada embarking on a $1.9 billion stadium in Las Vegas for the National Football League’s Raiders—funded in part with the largest public subsidy for a stadium in the league’s history.