[Congressional Record Volume 157, Number 188 (Thursday, December 8, 2011)]
[House]
[Page H8266]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   TAX BREAKS FOR RACING INTERESTS--NO ACTION ON PAYROLL TAX CUT AND 
                    UNEMPLOYMENT INSURANCE EXTENSION

  (Ms. DeLAURO asked and was given permission to address the House for 
1 minute and to revise and extend her remarks.)
  Ms. DeLAURO. Madam Speaker, at a recent horse sale in Kentucky, 
Breeder's Cup winner Royal Delta sold for $8.5 million as part of the 
sale of the late Saudi Prince Saud bin Khaled's farm. Three of the 
Saudi's other horses also sold for seven figures. A total of 22 horses 
were sold that day for $1 million or more, compared with only eight 
sold in 2010.
  Every millionaire who purchased these horses benefited from a 
Republican-sponsored taxpayer subsidy written into the last 2008 farm 
bill. It allows them to recover the cost of the horse. Even as they 
call for more budget cuts, Republicans used that bill to transfer 
wealth--nearly $500 million--from the pockets of ordinary taxpayers to 
the coffers of wealthy racing interests. This is just one example of 
how Republicans will go to absurd lengths to support the wealthiest 1 
percent of Americans while turning their backs on the middle class and 
working families.
  Now they refuse to take up a payroll tax cut extension and expansion 
that would mean $1,500 for 160 million people while they protect the 
tax breaks for 350,000 millionaires. They refuse to extend unemployment 
insurance to save 200,000 jobs.
  Our Nation deserves better leadership than this. Republicans need to 
stop giving out handouts to millionaire racing horse owners and start 
addressing the needs of the vast majority of American families.

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