Jasmin Palmer
AP Government and Politics
Current Event- Unit One
Obama Doesn't Want Federal Tax Dollars Paying for Any More Sports Stadiums
Summary:
President Obama is trying to revoke
a federal tax exemption on the money cities and states use to finance new stadiums.
If this was repealed, cities and states can pay for stadiums with tax-free
bonds and will cost federal taxpayers around $4 billion in tax money on the
existing stadium debt. It would also save close to $542 million over the next
decade. However, economists have made a point that when it gets into public
financing deals, the cost to enter stadiums would rise. Along with the price of
getting into stadiums going up, repealing this tax wouldn’t end the practice of
publically financing stadiums. Obama had already proposed repealing the tax
exemption in his 2016 budget, but the Republican side of Congress didn’t take
it much into consideration and as a result, it did not pass.
Analysis:
This
article is a good fit for unit one because it discusses the use of federal
money and taxes. It can be considered a block grant issue, even though block
grants aren’t supposed to have guidelines to them. It can also express the use
of grants-in-aid because the federal government is giving states tax money to
help buy and upgrade sports stadiums. This article also discusses revenue by the way
it talks about taxes used for the public.
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