A group of politicians tired of taxpayer money being used to build sports stadiums on Tuesday will introduce a bill in the Senate that will prohibit the practice.
Cory Booker (D-NJ) and James Lankford (R-OK) are sponsoring a bill that will prohibit teams from using municipal bonds, whose interest is exempt from federal taxes, to help finance stadium construction.
"Professional sports teams generate billions of dollars in revenue," Booker said in a statement. "There's no reason why we should give these multi-million-dollar businesses a federal tax break to build new stadiums. It's not fair to finance these expensive projects on the backs of taxpayers, especially when wealthy teams end up reaping most of the benefits.