
State And Local Issues | |
Politicians Refuse To Give Up On Stadiums |
Pennsylvania voters are dead set against giving taxpayer money to sports team owners to build stadiums. But that apparently hasn't slowed down state politicians, who have approved a plan to subsidize new professional sports facilities.
Despite phone calls running 100-to-1 against the stadium projects, the state legislature has just approved a plan to get the sports teams $330 million -- by calling it a loan. Analysts report that a slew of think-tank studies have concluded that stadiums actually reduce per-capita income in their locations. Whatever economic good may accrue, it is canceled out by the drag and cost of taxes levied to subsidize them. Source: Editorial, "End Run," Wall Street Journal, February 16, 1999. For more on State and Local Spending http://www.ncpa.org/pd/state/state5.html |
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