Proposed Tax on Ballplayers Puts A Wrinkle in D.C.'s Stadium Plan

Vadum, Matthew
May 2003
Bond Buyer;5/12/2003, Vol. 344 Issue 31633, p4
Trade Publication
If the District of Columbia is not allowed in the future to tax baseball players' income earned in the city, that prohibition would not stop the district from issuing $291.9 million of insured revenue bonds as of May 2003 to help build a $463 million stadium, a city spokesman said.What if the nation's capital wins the franchise and moves forward with building plans, but fails to gain new taxing powers that would strengthen the repayment pledge for the prospective bonds?The plan also calls for new tax-increment financing districts to be created on the architectural footprints around RFK Stadium and the future ballpark.The comments from Bender came the day after Donald Fehr, executive director of the Major League Baseball Players Association, blasted the district's proposal to tax the salaries of his members, complaining that it would unfairly single out baseball players.


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