All articles tagged with #public money
The Chicago Bears announced plans for a new stadium in Arlington Heights, claiming it would be built without public funding, but they are now requesting $855 million for infrastructure, effectively shifting costs onto taxpayers while seeking ownership and revenue rights, highlighting a common NFL tactic to secure public funds under the guise of community benefit.
The Chicago Bears announced plans for a new stadium in Arlington Heights, claiming it would be built without public funding, but they are now requesting $855 million for infrastructure, effectively shifting costs onto taxpayers while seeking ownership and revenue rights, highlighting a common NFL tactic to secure public funds under the guise of community benefit.
The Kansas City Chiefs are "cautiously optimistic" about the upcoming April 2 vote to extend sales tax for stadium projects in Jackson County, Missouri. The team has been making significant efforts to secure the vote, including enlisting star players and coach Andy Reid for a commercial and emphasizing the potential consequences of not receiving the funding. The outcome of this vote will have implications for future stadium funding for pro sports franchises.
Chicago White Sox owner Jerry Reinsdorf is seeking $1.7 billion in public investment for a new stadium, but Illinois Gov. J.B. Pritzker is hesitant, citing the lack of a convincing long-term return for taxpayers. Academic studies show that public funding for private sports facilities is not a wise use of money, and the proposed stadium subsidy would be the largest in U.S. history. The potential ballpark site is near downtown Chicago, and while the city mayor is open to discussions, convincing the governor remains a challenge.
The Chicago White Sox owner, Jerry Reinsdorf, is reportedly seeking around $1 billion in public funds from Illinois to build a new stadium in the South Loop, with plans to move from Guaranteed Rate Field to the currently unoccupied 78 South Loop development. The proposed funding includes seeking revenue from a pre-existing hotel occupancy tax and creating a tax-overlay district for The 78 property, as well as infrastructure funds for the stadium. The move has sparked debate over the use of public money for sports facilities and the team's future in Illinois.
Over 140 economists and policy experts have called on rich countries to combat climate change and inequality by redirecting trillions of dollars in public money. The experts urged wealthy governments to stop subsidizing fossil fuel companies, cancel the external debts of Global South countries, and tax extreme wealth. The letter comes just days before the start of the Summit for a New Global Financing Pact, which aims to build a more inclusive international financial system to fight inequalities and finance the climate transition. The scholars and activists argued that wealthy governments need to pay their fair share toward lifesaving climate action and poverty reduction.