NFL owners will still be allowed to ask cities for public money to build stadiums, tax-free, after all.
According to NJ.com, The new tax bill does not alter the ability for states to sell tax-free municipal bonds, which are often used when teams look to use public money to build new stadiums.
In October, President Trump tweeted, “Why is the NFL getting massive tax breaks while at the same time disrespecting our Anthem, Flag and Country? Change tax law!”
NJ.com reported that the proposal to change the law was included in the House Republican version of the bill, but taken out for the final version.
Sen. Cory Booker, New Jersey Democrat, also spoke out against the tax break:
Insane that my bipartisan bill ending sweetheart tax giveaways for NFL stadium construction doesn’t get included. They are preserving so many tax gifts for the most privileged while ending breaks for low and middle income Americans. https://t.co/0Uw13k95Jb
— Cory Booker (@CoryBooker) December 16, 2017
According to the Brookings Institution, a liberal policy group, the federal government lost $3.7 billion in revenue from the subsidies.
Other sports leagues also rely tax-free municipal bonds to fund stadiums.
Many NFL owners, including Washington’s Dan Snyder, donated money to the Trump campaign. Snyder donated $1 million to Trump’s inaugural festivities, according to the Federal Election Commission, in December 2016.
• Matthew Paras can be reached at mparas@washingtontimes.com.
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