NFL Unhappy With Tax Reform Proposals that Takes Away Billions in Sports Stadium Subsidies - News Today in World

NFL Unhappy With Tax Reform Proposals that Takes Away Billions in Sports Stadium Subsidies

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Title : NFL Unhappy With Tax Reform Proposals that Takes Away Billions in Sports Stadium Subsidies
link : NFL Unhappy With Tax Reform Proposals that Takes Away Billions in Sports Stadium Subsidies

news-today.world | The NFL is not a big fan of recent Republican tax reform proposals that cancel the billions that teams get in tax subsidies to build and operate sports stadiums across the country, a report says.

The tax proposal would eliminate the big tax breaks cities and states receive on money borrowed to build stadiums meant to entice or prevent sports franchises from moving to another city.

“The proposed tax bill would target the tax exemption on municipal bonds,” Pro Football Talk wrote, “and those bonds have become a key piece of the $750 million in public funding that will build a new stadium for the Raiders in Las Vegas.”

But the tax reform idea does not sit well with the National Football League, according to Pro Football Talk.

“We believe that the construction of new stadiums and renovations of stadiums are economic drivers in local communities,” said NFL spokesman Joe Lockhart. “If the idea is to promote economic growth, this would be a step backwards.”

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