Jun 06, 2024

Economist says STAR bonds Chiefs proposal needs a 'time out'

Posted Jun 06, 2024 7:00 PM
Economist Michael Austin
Economist Michael Austin

NICK GOSNELL
Hutch Post

HUTCHINSON, Kan. — Free-market economist Michael Austin is not positive about the proposal that the Kansas Legislature use STAR Bonds to try to lure the Kansas City Chiefs across the state line.

"The Kansas Legislature is using their special session to talk about billionaire bailouts instead of tax relief, and I think that is a fourth down fiasco," Austin said. "Kansans were clear, and I think that they want the Kansas Legislature to stay focused on tax relief for everyone, not just, you know, huddling up to billionaires. And so, you know, they're looking at trying to pass their fourth tax relief bill, but instead, yeah, we're talking about this new football stadium. My question is, what happened to capitalism? What happened to letting billionaires just build their own stadium and not do it off the backs of taxpayers? If they don't take a time out and reassess, they're going to punt tax relief and they're going to leave Kansas fans holding the stadium invoice."

It's not that Austin doesn't like the idea of moving the Chiefs, but using government funds to do it isn't the way to gain ground.

"It deserves celebration, but we also have to recognize that this is a private business," Austin said. "When you subsidize it with paychecks from folks who are, let's say, in Wichita or in Hays or in Great Bend, folks who will have no plans of ever going to a stadium, that's completely inappropriate. You know, no matter how much you might love Patrick Mahomes throwing touchdowns, you know, you're using your paycheck to pay for, you know, a stadium, right? That in no way, shape, or form is right, and it should be avoided."

It still isn't clear how spending time on the Chiefs proposal is going to get them closer to a tax agreement.

"I think this is a case of lawmakers getting too far ahead of their skis. The focus should be on tax relief," Austin said. "That was what Speaker of the House Dan Hawkins said, and I am 100% behind them. That's what you guys came in for was tax relief. That's what you need to stay laser focused on. If you divert your attention to any other matter that is not providing property sales and income tax relief to Kansas families, you're going to be feeling it, you know, either come, you know, election time, or you're going to be letting your constituents down.

The legislature is scheduled to return on June 18.

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