Full Answer Section

There is some evidence to support both sides of the argument. For example, a study by the Brookings Institution found that the number of new sports facilities constructed in the United States declined by 50% after TRA86 was passed. However, the study also found that the decline in construction had begun before TRA86, and that the repeal of the ITC only accounted for a small part of the decline.

Ultimately, the impact of TRA86 on the development of sports facilities is difficult to quantify. However, there is some evidence to suggest that the repeal of the ITC did have a negative impact on the construction of new sports facilities.

In my opinion, the Tax Reform Act of 1986 was a financial deficit to the development of sport facilities. The repeal of the investment tax credit made it more expensive to build new stadiums and arenas, which led to a decline in the construction of new sports facilities. This had a negative impact on the sports industry, as it reduced the number of jobs available and the amount of revenue that was generated.