THE BURNED OVER DISTRICT

If only I were friendly enough with an influential Congressman or Senator, then I could get lovely tax breaks designed solely to put more money in my pockets. In Congress it is now renewal season for tax breaks worth about $85 Billion over the next 2 years to various businesses and industries that really have no need of them.

Horse racing may be thought of as the sport of kings, but the National Thoroughbred Racing Association says breeders and stable owners need a tax break just like everybody else.

Stock car racing has a regal status among its followers, but NASCAR has its hands out, too, as do taxpayers in seven states with no income tax who pay state sales taxes and are able to deduct them from Uncle Sam’s tax bill.

The three are among the strange bedfellows who benefit from targeted tax breaks that expired at the end of 2013 and that the Senate and House of Representatives are now looking to restore.

“I especially appreciate that (Congress) understands the continued importance of our industry and the contribution of the equine economy to job creation and added investment,” said Alex Waldrop, the president of the thoroughbred racing association

The Senate legislation, which is expected to be voted on on the floor this week, combines more than 50 of the so-called tax extenders Congress awarded at different times for different constituencies, everything from helping families to pay for college, homeowners to deduct mortgage expenses, business to benefit by giving away food inventory, and to hire veterans. Sen. Kay Hagan, D-N.C., included that provision with a bill called “Hire a Hero.”

The tax extenders bill would reinstate them for two years at a cost to the treasury of $85 billion. Supporters are facing some stiff opposition from the right and the left, who say they create favorites in the tax code.

“Congress is able to hide the true cost of these tax breaks by renewing them every two years,” Steve Wamhoff, the legislative director for Citizens for Tax Justice, a liberal research center, said in a newspaper opinion piece. “But the truth is, if allowed to continue indefinitely, these corporate tax breaks will balloon the deficit by $700 billion over the next decade.”

The tax breaks are like earmarks except that the earmarks often did the public some good, the tax breaks are much more focused.