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GOP: Trump will veto $2 billion bill to rebuild Texas arena

Texas Sen. John Cornyn, a Republican, said Thursday that House Speaker Paul Ryan and Sen. Lindsey Graham, R-S.C., would veto the $2.5 billion bill they are scheduled to introduce Thursday to rebuild the state’s state-of-the-art arena.

The bill would fund construction of the new arena by increasing a portion of the federal government’s $1.5 trillion economic stimulus fund for arenas.

The GOP measure, which has already been approved by the Senate, would extend the current $300 million stadium tax credit for stadiums to 2021 and allow state lawmakers to pass a new stadium tax deduction.

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Cornyn also told reporters that the bill would also end the $1 billion annual stadium tax subsidy for state universities.

Ryan and Graham, however, have said they would support the bill and that it should pass the Senate and be signed by President Donald Trump.

Cornys comments come after several GOP lawmakers voiced concerns about the bill in recent days, including Sen. Ted Cruz, R.I. Cornies opposition comes just days after Trump signed an executive order authorizing the construction of a new $1 trillion stadium tax rebate for stadiums.

Trump has not commented on the arena subsidy bill since signing the order, and he did not answer a question on the issue Thursday about whether he supports it.