A recently introduced Senate bill would prohibit the use of taxpayer funds to construct sports stadiums for professional teams.
Senators Cory Booker, D-N.J., and James Lankford, R-Okla., are sponsoring the bill that would stop teams from using municipal bonds on stadium projects. Municipal bond interest is exempt from federal taxes.
A report by the Brookings Institution found that $3.2 billion in federal taxpayer money, through municipal bonds, has been used to fund 36 newly built or renovated sports stadiums since 2000. “Professional sports teams generate billions of dollars in revenue,” Booker said in a news release. “There's no reason why we should give these multimillion-dollar businesses a federal tax break to build new stadiums.”
A similar bill was introduced by Rep. Steve Russell, R-Okla., in the House of Representatives in March 2016.
Related Stories
Codes and Standards | Oct 12, 2020
Guidance offered for K-12 schools to support students with asthma
Green purchasing policies for cleaning, filters, furniture and other products encouraged.
Codes and Standards | Oct 7, 2020
More energy efficiency programs are encouraging zero-energy projects
At least 20 programs for new construction, major renovations emerge.
Codes and Standards | Oct 6, 2020
LEED, GBCI rating systems spur resilience-enhancing strategies
Expanded programs, resources address impact of climate change.
Codes and Standards | Oct 6, 2020
International Code Council to hold inaugural online education event
Week-long ICC Learn Live will include panel conversations, keynotes, and breakout sessions around key topics in building safety.
Codes and Standards | Oct 5, 2020
Guides addressing fenestration anchorage updated
First update to decade-old technical documents released.
Codes and Standards | Oct 1, 2020
Deadline extension for LEED 2009 project certifications
Delivery timeline delays due to COVID-19 pandemic prompt action.
Codes and Standards | Sep 29, 2020
New drinking water standard criteria further restricts lead leaching in plumbing products
Tightened standard applies to endpoint devices that dispense drinking water, and other plumbing components
Codes and Standards | Sep 29, 2020
Groups sue CDC over eviction moratorium
Natl. Apartment Assn. and New Civil Liberties Alliance want hearing by October.
Codes and Standards | Sep 24, 2020
Benefits of building enclosure commissioning include reduced costs
Savings achieved in less rework and fewer and shorter punch lists.
Codes and Standards | Sep 23, 2020
Intl. Code Council aims to stay ahead of new tech, efficiency trends, and resiliency
Passive survivability, social resiliency, and community health among the goals.
