Cutting Arena Subsidies Can Help Cover Tax Cuts, Think Tank Says

Republicans scoping out ways to pay for the extension of tax cuts that are set to expire this year should take a close look at the public financing of professional sports stadiums, libertarian think tank Cato Institute said.

Tax breaks for stadiums are among a dozen examples of “tax expenditures ripe for elimination or reform,” Adam Michel, Cato Institute’s director of tax policy studies, wrote in a Monday blog post.

There’s plenty of spending to cut, but those cuts “should not preclude” House Republicans from also removing trillions of dollars worth of “loopholes in the tax code,” Michel added.

Economists ...