In the race for tax dollars

The Indianapolis Motor Speedway’s political donations averaged about $860 annually during the 10-year period from 2001 to 2011.

It would seem that whatever pace car has been keeping these donations regular has left the track.

In the previous election year, political donations have accelerated to the extreme.

From July 2011 to the week after last November’s elections, the IMS donated slightly more than $103,000 to campaigns for both parties and also registered with the state lobbying commission.

And this year, as IMS officials ask the Indiana General Assembly to approve a measure that would give them $5 million a year in tax revenue to fund repairs to the Speedway, they claim these events are entirely unrelated.

The organization donated about $50,000 to both the Democratic and Republican parties.

This was an obvious attempt to hedge its bets and curry favor with whichever party came out victorious in November.

The strategy worked, and the bill is quickly proceeding through the state legislature.

We do not believe for an instant that the IMS’s upswing in political activity is independent of its pressure to have this bill passed. They even hired Bose Public Affairs Group, a consulting firm that specializes in moving their clients’ agendas through the political process.

Given the enormously positive effect the Speedway has on the city and state’s economies, we do believe the measure should pass.

However, we also must ask what on earth is going through the minds of the state’s legislators.

In previous editorials, the IDS Editorial Board has pointed out the laughability of recent legislative action, but the inadequacy of the General Assembly is seriously concerning.

We do not understand how such a large sum of tax revenue can so easily be handed out to a private corporation while the state is constantly reducing the funds directed at initiatives for which it is actually responsible, like public education and environmental protection.

This is an especially egregious move considering the rhetoric of the Indiana Republican Party, which never seems done blaming government handouts for the budget deficit and high tax rates for the stagnant economy.

Despite its likely efficacy, this bill is still corporate welfare, and it is funded by Hoosier taxpayers.

It is important to remember that the Speedway is important to Indiana’s economy.

The business it creates is a large source of Indiana’s tourism industry, and the IMS is widely considered Indianapolis’s claim to fame.

Rejecting necessary funding to the IMS and putting an international icon at risk of depreciating would be a mistake.

It is equally important, though, to acknowledge the somewhat lopsided priorities of the General Assembly and to hold its members accountable for their use of public funds.

It is actions like these that continually make us question what is going on in the Statehouse.