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Trustee Archive
Public funds are often used to lure pro sports teams to a city or to prevent one from relocating. These enticements include building or renovating stadiums and making improvements to surrounding infrastructure. Team owners often threaten to relocate their teams in order to secure taxpayer assistance for improvements to stadiums and arenas. Since 2000, more than 45 stadiums were either built or renovated at an average cost of $412 million. Since the early 1960s, 91 sports stadiums have been built with public funding, and 22 of them were fully paid for with taxpayer funds. Sometimes, local officials seize land through eminent domain and donate it to sports franchises. Some cities pay their team's property taxes as well as the costs of street construction, security, traffic control and parking. Studies have shown the public receives few, if any, economic benefit from the construction of new stadiums. Critics say taxpayer funds should not be used on building stadiums for wealthy sports franchises when communities have more important needs.
Pending Legislation: H.R.993 - No Tax Subsidies for Stadiums Act of 2023
Sponsor: Rep. Earl Blumenauer (OR)
Status: House Committee on Ways and Means
Chairperson: Rep. Jason Smith (MO) |
- I oppose reforming current stadium subsidy policy and wish to donate resources to the campaign committee of Speaker Kevin McCarthy (CA).
- I support denying an exclusion from tax of the interest on professional stadium bonds (i.e., bonds used to finance or refinance capital expenditures for a stadium or arena used for professional sports exhibitions, games, or training). And wish to donate resources to the campaign committee of Rep. Jason Smith (MO) and/or to an advocate group currently working with this issue.
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| Winning Option
»» No issues were voted |
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I support denying an exclusion from tax of the interest on professional stadium bonds (i.e., bonds used to finance or refinance capital expenditures for a stadium or arena used for professional sports exhibitions, games, or training). And wish to donate resources to the campaign committee of Rep. Jason Smith (MO) and/or to an advocate group currently working with this issue.
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- Representative
If elected as a trustee, the campaign committee of Rep. Jason Smith (MO) will be unconditionally awarded the funds pledged to this issue along with a letter requesting him to favorably consider passing H.R.993 - No Tax Subsidies for Stadiums Act of 2023.
- Cato Institute
If elected as a trustee, CATO Institute will be awarded the funds pledged to this issue along with a letter requesting these funds be used to advocate against public funding of sports stadiums.
About; The Cato Institute is a public policy research organization — a think tank — dedicated to the principles of individual liberty, limited government, free markets, and peace. Its scholars and analysts conduct independent, nonpartisan research on a wide range of policy issues. Using all means possible — from blogs, Web features, informative direct mail, op-eds and TV appearances, to conferences, research reports, speaking engagements, and books — Cato works vigorously to present citizens with incisive and understandable analysis.
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- No trustee votes received.
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| Poll Opening Date |
July 17, 2023 |
| Poll Closing Date |
July 23, 2023 |
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