Of Course The Texas Motor Speedway Received A Large Public Subsidy When It Was Built
Republican U.S Senator from Texas John Cornyn attended a NASCAR race at the Texas Motor Speedway over the last weekend.
Above is a picture of our white-haired blue-shirted Senator.
He is just one of the folks out at the NASCAR race. He is just one of us.
When I saw that our conservative government-bashing Senator Cornyn had visited the Speedway, I just knew that the Texas Motor Speedway had to have been built with at least some government help.
I Googled something like “texas motor speedway public money” and found that–of course–the construction of the Texas Motor Speedway had received a significant public subsidy, and that the owners of the speedway have a 30 year exemption from city and county property taxes.
The book Sports Finance by Gil Fried, Steven Shapiro, and Timothy Deschiver reports that the speedway received $16 million in tax money from the City of Fort Worth and Tarrant County for road and sewer improvements. This money was in addition to the 30 year tax break.
The Texas Motor Speedway opened in 1997.
I’ve got no problem with NASCAR. If folks want to see an automobile race, then that is great.
It simply would be good if people like Senator Cornyn would admit that government has always had a large role to play in the building of Texas.
And, since Senator Cornyn will never tell the truth about much of anything, if would be helpful if everyday Texans better understood that they benefit all the time from the works of government.
Though, as it so often is with these things, while helping with the roads and sewers for the Speedway might be of some economic value to the people of Fort Worth and Tarrant County, the 30 year property tax exemption is another matter.
The next time NASCAR fans in Texas ponder the subject of welfare, they might keep in mind who really gets the big breaks.