I rarely disagree with the Review-Journal’s view, but promoting the new Oakland A’s stadium by saying that there will be no new taxes is deceptive (June 9 editorial).
The legislation provides the team with $380 million in tax credits from the state, along with county-issued bonds and infrastructure. Tax credits allow the entity to not pay taxes that would normally be paid. And issuing county bonds does cost the taxpayer money. Municipal bonds are debt securities issued by state and local governments. They are loans that investors make to government. In this instance it is being used to help fund the building of a MLB stadium. According to the U.S.Security and Exchange Commission, the issuer, (Clark County) has the power to tax residents to pay the bondholders.
The road infrastructure for the new ball park also comes from taxes we citizens pay.
Las Vegas Review-Journal
Michael O. Kreps
June 17, 2023