Bailout Bill Includes NASCAR Tax-Break Provision
President Bush finally signed the much-needed NASCAR tax-break bill into law today. I guess it also has something to do with banks and stuff, but who cares about that crap? It’s all about left turns!
Since pork spending is a bad thing these days, Congress decided that pork tax-cutting is a better idea. Somehow, that means that NASCAR was extended the courtesy of writing off the costs of their facilities over seven years instead of the standard 15. I don’t really know what that means, but it reportedly means a short-term tax savings of about $100 million.
