WASHINGTON ― Though Republicans talked a good game about getting rid of it, their new tax law preserves a tax exemption that helps billionaire team owners build sports stadiums at public expense. ), another member of the conference committee, said that even some Senate Republicans didn’t want to preserve the stadium subsidy. The sports tax break was a creation of the 1986 tax overhaul. In the final stretch, preserving the tax break became “a priority” for President Trump, a Republican aide told The Wall Street Journal in December. Just before the tax law passed, Sen. James Lankford (R-Okla.) pushed an amendment to end the stadium subsidy.

Source: Huffington Post January 12, 2018 19:18 UTC