The bill to tax payers for bond-funded stadiums? $4 billion


Whenever the subject of publicly-financed ballparks and stadiums comes up someone always makes the distinction that so-and-so’s ballpark wasn’t paid for with taxpayer dollars but, rather, was paid for with municipal bonds.

Muni bonds, however, are not free.  As Bloomberg notes, just because the money doesn’t come from a city or state’s general fund doesn’t mean taxpayers aren’t footing the bill. They are, because the interest paid to investors on such bonds are not taxable. The result:

Tax exemptions on interest paid by muni bonds that were issued for sports structures cost the U.S. Treasury $146 million a year, based on data compiled by Bloomberg on 2,700 securities. Over the life of the $17 billion of exempt debt issued to build stadiums since 1986, the last of which matures in 2047, taxpayer subsidies to bondholders will total $4 billion, the data show.

Stadiums which directly enrich millionaire and billionaire sports owners and their allied businesses.

Johan Camargo will start season on disabled list

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Braves third baseman Johan Camargo will begin the regular season on the disabled list with a strained side and back, David O’Brien of the Atlanta Journal-Constitution reports. Camargo suffered the injury last week in a Grapefruit League game against the Blue Jays and hasn’t played since.

With Camargo out, Rio Ruiz will likely play third base in his place, as well Charlie Culberson and Danny Santana. O’Brien notes that had Camargo not been injured, the Braves likely would’ve left Ruiz off the roster in favor of an extra outfielder or third catcher.

Camargo had a solid rookie season for the Braves in 2017, batting .299/.331/.452 across 82 games. Ruiz did not fare as well, batting .193/.283/.307 in 53 games.