Philadelphia Eagles Pass on Tax Credit for Vick
August 25, 2009
The TaxProf Blog picked up on this story from the Philadelphia Inquirer:
The Philadelphia Eagles, who fought for years with the city over an $8 million stadium debt, are not a team known for leaving money on the table.
But PhillyClout found one payday that the team wants to pass on.
The Mayor’s Office for the Re-entry of Ex-Offenders (MORE) offers a $10,000 tax credit for employers who hire people who have been released from prison.
Michael Vick, the dogfighting-disgraced quarterback signed by the Eagles this month, spent 18 months in federal prison for his crimes against canines. He’s due to make $1.6 million this year.
The Eagles could recoup .625 percent of that if they sought the MORE tax credit, but team spokeswoman Pamela Browner Crawley said that it won’t happen.
“It was never considered,” said Crawley, adding that the Eagles weren’t making a statement on ex-offenders and re-entry when Vick was signed but think that this all could help spark discussion and debate on “a very important issue for the community.”
Maybe the team doesn’t want to add to an already stressed city budget. Or maybe they decided that they have already taken enough subsidies from the taxpayer. Read about public funding of private sports stadiums here, here, here, and here (from Brookings). More on MORE here.
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