Tax Breaks for NASCAR

"Meanwhile, racetrack owners received tax breaks worth $45 million in 2010 and 2011, aimed at helping them make improvements to their facilities. A two-year extension of the program was included in the tax cuts compromise that President Barack Obama forged with Congress in December."


Read more: http://www.mcclatchydc.com/2011/02/25/109477/something-gop-doesnt-want-to-cut.html#ixzz1a6tl9IuS

A Minnesota Congresswoman sponsored a bill in 2011 that would have prevented the Pentagon from spending taxpayer dollars for NASCAR and other motor sports sponsorships.   Apparently, there are zillions of these military sponsorships in all types of motorsports and at all levels of the sport.   The bill would have also ended special tax treatment for racetrack owners, a special accelerated depreciation schedule that reportedly costs us $45,000,000 per year.   The Republicans demanded that this boondoggle be continued, even as they struggled with President Obama to find major budget items to cut.    The Congresswoman reportedly received numerous outraged messages from NASCAR country before her bill was soundly defeated.   Apparently, the "No Tax Increase" pledge extracted from virtually all Republican Congressmen by powerful tax foe Grover Norquist includes a pledge not to close tax loopholes, which would be construed by Norquist as tax increases.    Can we really say that there is nothing that this country needs more in these lean times than updated speedways for NASCAR tracks?   Redecorated restrooms at Kansas Speedway trumps Head Start?   It would seem that it would be hard to find a tax loophole that would be more worthy of being closed than this one.    I like Jeff Gordon and Tony Stewart as much as the next guy, but really, tax breaks for NASCAR?   Do taxpayers really need to be paying for NASCAR sponsorships:  "Navy Seals for Dale Earnhart, Jr.?"   What's next, NBA players getting deductions for groupies as dependents?   Write offs for smashed electric guitars for rock stars?   Gimme a break.