Waste, Fraud, and Abuse

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Gaming the Tax Code: the New York Yankees and the City of New York Respond to Questions About the New Yankee Stadium

This hearing will examine whether New York City officials improperly reported to the Internal Revenue Service and prospective bond purchasers inflated values for land and buildings in order to secure more tax-exempt bonds for the construction of a new Yankee stadium. The City proposed using an innovative financing mechanism for these bonds, known as payments in lieu of taxes (PILOTs). The hearing will also examine whether the City’s efforts to stop finalization of proposed U.S. Department of Treasury regulations that would effectively prohibit the use of PILOTs in this context serve the public interest. The Domestic Policy Subcommittee has previously held three hearings examining the use of federal tax-exempt financing for construction of professional sports stadiums and arenas. Chairman Kucinich also issued a letter to New York City Mayor Michael Bloomberg outlining the Subcommittee’s concerns.

Gaming the Tax Code: Public Subsidies, Private Profits, and Big League Sports in New York

This hearing will examine whether the use of the federal tax code to subsidize the construction of professional sports stadiums and arenas furthers the public interest. This is the third hearing held by the Subcommittee on this subject and the first hearing to examine alleged improprieties in the financing process of the new Yankee Stadium.

Subcommittee Widens Investigation of New Yankee Stadium Deal

Congressman Dennis J. Kucinich, Chairman of the Domestic Policy Subcommittee of the House Oversight and Government Reform Committee, today requested documents relating to a provision in the new Yankee Stadium deal.

What the October Wildfires Reveal About Preparedness In Southern California

On October 21, a wildfire began in Witch Creek, a rural area in the foothills of San Diego. At the height of the disaster, 23 fires were burning. By the time all the fires were contained, 368,000 acres of land had been burned; 1,700 homes were destroyed; and 10 people died.

Upholding the Spirit of the CRA: Do CRA Ratings Accurately Reflect Bank Practices?

This hearing will expose and explain how Community Reinvestment Act (CRA) exams may not reflect discriminatory practices by regulated banks, including the problems associated with regulatory discretion and new bank structures that were prohibited when Congress enacted the CRA. It will also analyze the detrimental affect of non-disclosure of fair lending exams on community participation and CRA enforcement.

Professional Sport Stadiums: Do They Divert Public Funds From Critical Public Infrastructure?

This hearing will examine whether or not public subsidies for professional sports stadiums divert funds and attention away from America’s public infrastructure. This is the subcommittee’s second hearing on the topic. On March 29, 2007, the Domestic Policy Subcommittee held a hearing that looked at the promises of economic prosperity that are made to cities which finance professional sports stadiums. The first hearing revealed that no evidence has been found to suggest that professional sports stadiums create jobs, raise incomes, or raise local tax revenues.

Combating Drug Abuse and Drug-related Crime: What Is Working in Baltimore

After a period of improvement, lethal and non-lethal violent crime in Baltimore is on the rise. The Domestic Policy Subcommittee hearing will examine innovative approaches to combating drug abuse, drug-related violence, and gang activity in Baltimore. The focus of the hearing will be on evaluating practical alternatives to incarceration to prevent drug use and drug-related violence. 

Domestic Policy Subcommittee Hearing on Taxpayer Financed Stadiums, Convention Centers, and Hotels

The public justification for public financing, including construction financing with tax exempt bonds, is that this is an investment that brings jobs and consumers to a city’s downtown. Academic research on the value to economic development, however, has universally concluded that sports stadiums, convention centers and hotels do not increase economic activity in downtown areas.

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