Yvette Quiazon, Associated Press
A recent Illinois bill proposes taxing the athletic to support young people.
A 25-cent tax would be added to any “shoe designed primarily for sports or other forms of physical activity,” according to an article by the Chicago Sun-Times.
The funds from the sneaker tax would help Illinois YouthBuild, a nonprofit organization that provides training for disadvantaged youths. Currently it operates mostly with federal funds from the Department of Labor, but funding has halted the past three years due to budget constraints.
“Fortunately for (YouthBuild), I don’t see how an additional 25 cents on a pair of tennis shoes should be a challenge,” Rep. Will Davis told the Sun-Times. The Democrat sponsored the new bill.
Owners of athletic companies, however, see that 25 cents as a "deterrent to business." Rob Karr, vice president of the Illinois Retail Merchants Association, said businesses are opposed because product-specific taxes are a bad idea.
- The 20 best cities to live in for first-time...
- A solution to paying that medical bill you...
- Navy vet says the effects of this are like...
- How depression threatens financial well-being
- Restaurants experimenting with pay-in-advance...
- 7 benefits of taking vacation time
- Allow student loan bankruptcies, but hold...
- Raising a kid will cost you $245,000 —...
- Allow student loan bankruptcies,... 15
- Raising a kid will cost you $245,000... 10
- Food stamp use shows continued... 8
- Want to increase attraction in your... 7
- Balancing act: Readers dispute... 4
- A solution to paying that medical bill... 4
- Dave Ramsey says: Don't make... 4
- Middle-class shoppers more sensitive to... 1