Today, Americans will shell out millions of dollars on bourbon, fancy hats, and garish outfits as they prepare for one of sport’s great traditions: The Kentucky Derby. But the tab for those mint juleps and seersucker suits isn’t all race-watchers will be picking up this weekend.

Even if they’re not buying tickets or placing bets, American families and small businesses will also be footing the bill for tens of millions of dollars in giveaways for the horseracing industry, thanks to a special-interest earmark in the federal tax code.