D.C. Using Surplus Ballpark Funds to Balance Budget

When D.C. passed a business tax to help fund the construction of a new ballpark for the Washington Nationals, business leaders expected all the revenues to go toward paying off the debt.  No so.  Since 2005, the D.C. government has collected $135 million more in taxes and rent above what has been paid in stadium bond payments.  Instead of more quickly paying off the stadium debt and sunsetting the tax, the city is using the extra bank to plug serious budget holes.  Many business leaders are understandably not happy about it.  Read more here.

Leave a comment

Filed under Design & Construction, Money & Financials, Stadium Issues

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s