The Daily Iowan’s editorial board recently published a column arguing that the Iowa Senate should reject a $9 million tax break for a motor racing track in Newton, Iowa purchased by NASCAR. The authors contend that accepting tax breaks and appropriating public funds to build and maintain complexes for organizations such as NASCAR can harm the local economy. A study by economics professor Dennis Coates was referenced in the article in which he argued sports welfare negatively impacts local residents because most money generated by sports stadiums ends up going to the owners. “The professional sports environment in the 37 metropolitan …