Thursday, March 26, 2009
Schneider Confirms Alcohol Tax Rumor To Bail Out CIB
The Star's Mary Beth Schneider confirms what I learned from a legislator yesterday during our State House rally that there are discussions among legislative leaders of raising the state's alcohol tax to bail out the CIB. "Negotiations are under way in the legislature to bail out the financially struggling Capital Improvement Board, possibly by raising alcohol taxes," Schneider writes. "The CIB, which operates Indianapolis's professional stadiums, is facing a $20 million shortfall this year, and that could grow if the Indiana Pacers, which are losing money, are unable to pay their $15 million share of the costs of Conseco Fieldhouse." She adds, "The CIB would have to make up that money somehow, and already has done such things as cutting funding to the arts."