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There will be no more federal subsidies for ...sm

Posted: Feb 5, 2015

building sports stadiums says President Obama in his new budget proposal.

President Obama’s most recent budget proposal takes aim at a tax exemption that has helped drive an explosion in publicly-financed sports facilities across the United States, a move that would end federal taxpayers’ role in subsidizing the construction of stadiums and arenas that often provide little economic benefit to their cities and states.

As it stands now, cities and states can help pay for stadiums by accessing tax-free government bonds that have below-market interest rates subsidized by the federal government. The budget Obama released Monday, however,repeals the tax-exemption from the bonds that finance sports facilities if more than 10 percent of the arena or stadium is dedicated to private business use.

Because almost all professional sports stadiums and arenas would fail that test, the Obama proposal would virtually eliminate a tax exemption that provides millions of dollars in federal subsidies each year to sports facilities. States and cities would instead have to finance stadiums with bonds that are not tax-exempt, raising the cost of an already pricey endeavor in a way that could affect the way lawmakers and local taxpayers view the deals.

Thoughts?

;

Who knows - anonie

[ In Reply To ..]
The man wants no one to have anything. If he had his way, he'd just tell us to sign over our paychecks and live off of the government for everything.

What kind of a country would that be.

Too many live that way now.

I'm confused. Did you reply to the correct post? nm - scribe

[ In Reply To ..]
.

My reply was okay - anonie

[ In Reply To ..]
Yes I posted after the right post.

I was merely saying that this is only one way that Mr. O doesn't want anyone to have anything. He wants us all to be dependent on government.

I would assume he would like DC to fund any stadiums built and hopefully they will be named after him. Part of his legacy.

I know what I am doing. Sorry you didn't follow my jab

Mr. Obama wants our tax dollars to STOP going toward....sm - Scribe

[ In Reply To ..]
building sports stadiums, billions of dollars over time. You have a problem with that?

I've noticed that trend for sports teams to - whine that they need a new stadium - sm

[ In Reply To ..]
or else they'll leave and go to some other town. Even though they have a strong fan base and a perfectly good stadium right where they are. Then the city goes all-out building an enormous, multi-billion-dollar new stadium for these already overpaid teams. What do the fans get? Higher ticket prices to see the game. Or stadiums built in areas that cause the area they're built in to become nearly inaccessible whenever there's a home game on.

I think it's deplorable to tear down a perfectly good arena or stadium and build a new one just for those little crybaby rich-kid players. If they want a new arean, let THEM pay for it. THEY'RE the ones with yearly multi-million-dollar contracts.

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