Lankford Wants to Stop Federal Subsidies to Professional Sports Stadiums
WASHINGTON, DC (Feb. 14) – Senators James Lankford (R-OK) and Cory Booker (D-NJ) introduced the No Tax Subsidies for Stadiums Act, a bill to end generous federal subsidies for professional sports stadiums. The bill would close a loophole in the tax code that allows professional sports teams to finance new stadiums with municipal bonds that are exempt from federal taxes. Rep. Earl Blumenauer (D-OR) is leading the bill’s introduction in the House of Representatives.
