BTW here's an article from the WSJ today. Alas, I was wrong. There are members wanting to make income from Muni bonds taxable. Even Comrade Obama wanted to:
Ending the tax break for pro-sports stadiums has support in Congress. Rep. Steve Russell (R., Okla.) and Sen. Cory Booker (D., N.J.) are the primary sponsors of a
bill that would prevent tax-exempt bonds from being used to finance the projects.
In a statement Tuesday, Mr. Russell said the issuance of tax-free bonds to pay for stadiums distorts the goal of helping municipalities pay for infrastructure projects. He said the issue has more urgency given the recent protests.
An Obama administration proposal to repeal the tax break for pro sports stadiums would have raised $542 million over a decade, according to a Treasury Department estimate in 2016.
And then:
While ending the tax exemption for sports stadiums would be a blow to NFL franchise owners, Mr. Trump’s broader tax proposals could mean a much bigger benefit for them.
For instance, Mr. Trump wants to set a top tax rate of 25% on so-called pass-through income of businesses, down from today’s top rate of 39.6%. That is a structure that sports teams commonly use. Depending on how the rules are written, they could see smaller tax bills on their annual income.
Mr. Trump also wants to repeal the estate tax, which would help sports owners. The president has pointed to the one-year repeal of the estate tax in 2010 as helping the Steinbrenner family, owners of the New York Yankees.
“When George Steinbrenner died, like with the estate taxes, the estate paid nothing,” Mr. Trump said in an interview with The Wall Street Journal in July. “And if he would have died like two weeks later, they would have paid 50% of the Yankees.”
Mr. Steinbrenner died in July 2010, months before the repeal expired and a new 55% rate was scheduled to take effect on Jan. 1, 2011; that rate was later set by Congress at 35% for 2011. Forbes estimated his net worth at $1.1 billion when he died, meaning the lack of an estate tax potentially saved his heirs hundreds of millions of dollars.
https://www.wsj.com/articles/trump-puts-spotlight-on-sports-tax-breaks-1507660681
