Analysis

Tax Writers Try Throwing Subsidies Out Of The Stadium Game

By Matthew Nesto (November 6, 2017, 6:40 PM EST) -- Buried 272 pages beneath a mountain of tweaks and changes proposed in the sweeping tax bill released by House Republicans last week lay a largely overlooked provision that would eliminate tax-exempt bond financing for professional sports stadiums.

It's a proposal that struck fear and joy into the hearts of people closely connected to the issue, even though its actual fiscal impact in federal budgetary terms would be relatively minimal.

At stake is an estimated $3.5 billion in revenue the federal government, and in turn taxpayers gave away in the past 15 years in tax exemptions on municipal bonds used to pay...

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