Posted on 06/24/2011 5:51:24 AM PDT by MichCapCon
Michigan International Speedway is now a two-time winner when it comes to state subsidies.
The state’s official tourism site announced it was hosting the Pure Michigan NASCAR Sprint Cup Race at MIS on Aug. 21. The Michigan Economic Development Corporation paid $972,500 for the one-year sponsorship deal. And MIS already qualifies for tax credits through the Michigan business tax since 2007. The state reimburses the racetrack for every dollar it spends on infrastructure improvements on areas such as the infield or the grandstand area. The state estimates this will be $1.2 million for 2011.
“They are spending money on something that they are already spending money on,” said James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy. “I don’t think the state should have an MIS-specific policy. The state should not be taking money from everyone else to give to a politically favored business.”
(Excerpt) Read more at michigancapitolconfidential.com ...
“The state should not be taking money from everyone else to give to a politically favored business.””
Unless its GM.
This is infuriating. NASCAR is a private entity that needs to support itself. They have no right to my tax $$$$$.
I cannot stand this country & its politicians any more.
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