MOYNIHAN BILL COULD PASS, SAYS ONE CONGRESS WATCHER

     While the "buzz of angry protest" to Sen. Daniel Patrick
Moynihan's (D-NY) legislation to bar tax-free financing for
stadiums was "almost instant," Neal Peirce of NATIONAL JOURNAL,
the DC-based public policy weekly, believes "in time, he's likely
to win."  Despite Republican criticism and statements that the
legislation is not on the leadership's "radar," Moynihan "is not
backing away."  Peirce cites Congressional Research Service
studies that show general-purpose bonds for stadium construction
add only to municipalities' "indebtedness," raise borrowing costs
for other public projects, and have "near zero" effect in terms
of job creation or economic impact (NATIONAL JOURNAL, 7/20).