Legislation that would grant Fairmount Park a tax break worth almost $1.4 million a year has passed both houses of the Illinois legislature and awaits the signature of Gov. Rod Blagojevich. If approved, the track could increase purses and racing dates, according to reports.
A major hurdle blocking the potential growth of international simulcasting was cleared on Thursday night when the U.S. Senate Finance Committee approved by a 12-9 vote a major tax-cut bill that includes a provision eliminating a burdensome 30% withholding tax on winning pari-mutuel wagers placed by foreigners through U.S. pools.
The owner of Playfair Race Course in Washington said a proposed tax increase is behind his plan to cancel live racing in 2003.
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