End tax breaks for sports stadiums

This week Senators James Lankford (R-Okla.) and Cory Booker (D-N.J.) introduced a bill to eliminate a federal subsidy for professional sports stadiums.

The No Tax Subsidies for Stadiums Act is intended to close a loophole in the tax code which allows professional sports teams to finance new stadiums with municipal bonds that are exempt from federal taxes.

Municipal bonds are intended to give communi…