Too late for some stadiums . . .
A group of politicians who are tired of taxpayer money being used to build sports stadiums on Tuesday will introduce a bill in the Senate to prohibit the practice.
Cory Booker, D-N.J., and James Lankford, R-Okla., are sponsoring a bill that would prohibit teams from using municipal bonds, whose interest is exempt from federal taxes, to help finance stadium construction.
“Professional sports teams generate billions of dollars in revenue,” Booker said in a statement. “There’s no reason why we should give these multimillion-dollar businesses a federal tax break to build new stadiums. It’s not fair to finance these expensive projects on the backs of taxpayers, especially when wealthy teams end up reaping most of the benefits.”
But not, perhaps, for others . . .
From the El Paso Inc.:
In the meantime, [Paul] Foster and the other members of MountainStar Sports Group, which owns the Chihuahuas baseball team, are working to bring a soccer team to El Paso. He says the deal would involve a new stadium.
“We are working with the city, county and other officials to figure out the best location and scenario,” Foster says.
He adds: “I can almost guarantee that we’ll have soccer in El Paso within a couple of years.”
We better start saving out lunch money now, so we can help out the billionaires in a couple of years.