Politics & Government

October 2, 2008

Saving Wall Street: Bailout bill gives tax break to NASCAR

The Senate-passed bill includes a provision that allows motor-sports facilities to write off capital investments over seven years, instead of 15. That'll help NASCAR cut its tax bill when it repaves tracks or builds new concession stands. It may also win support in the House for the bailout bill from Reps. Mike Thompson, D-Calif., and Robin Hayes, R-N.C., who voted against the bailout on Monday but are sponsors of the NASCAR legislation.

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