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Owners of NASCAR racetracks get $70 million tax breaks in fiscal cliff deal


American taxpayers aren't the only ones to rejoice at the news that U.S. lawmakers finally agreed to avoid the fiscal cliff. An unlikely beneficiary of the new legislation is NASCAR and its track owners, according to a report from Auto Week. Under the new deal, some of NASCAR's track owners will receive a $70 million break. International Speedway Corporation, a company ...
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More fiscal cliff articles

2012 U.S. auto sales expected to be strongest in five years
U.S. auto sales are expected to rise 9 percent in December, making 2012 the best year for the industry since 2007. New car sales were favoured by easier access to credit, ...
The Fiscal Cliff a Real Danger to the Future of Car Sales
Although the auto industry in the US will end 2012 on a strong note analysts predict 2013 will have a rocky start due to the failure to fix the ‘fiscal ...
J.D. Power forecasts U.S. auto sales will rise 14 percent in December
New car sales in the U.S. are expected to increase by up to 14 percent in December, according to forecasts from J.D. Power and Associates and LMC Automotive. According to the ...
Obama to Visit Detroit Diesel, Daimler to Announce Investment
Today, December 10th, when President Obama will visit a Daimler plant in Redford Township, the automaker will announce its investment of $100 million at the facility. The money will be used ...

latest automotive news
Vettel to be father again – Ecclestone
Mar.29 (GMM/Inautonews.com) All is well in the world of Sebastian Vettel. The German broke Mercedes' run of dominance on Sunday, ...
Malaysia announces new F1 race deal
Mar.29 (GMM/Inautonews.com) Malaysia will continue to host a grand prix for at least the next three years. As the chequered ...
No Hamilton contract news for ‘few more days’
Mar.29 (GMM/Inautonews.com) The Malaysian grand prix weekend started and ended without Lewis Hamilton's new Mercedes contract being announced. The reigning ...
Wolff hopes Malaysia stops equalisation ‘nonsense’
Mar.29 (GMM/Inautonews.com) Toto Wolff on Sunday said he hopes Ferrari's breakthrough win stops the "nonsense" talk about equalisation. After Australia, ...
Dennis denies Alonso relationship breaking down again
Mar.29 (GMM/Inautonews.com) Ron Dennis has played down suggestions McLaren's relationship with Fernando Alonso is once again breaking down. In 2007, ...
Susie Wolff slams ‘all-female F1′ series idea
Mar.29 (GMM/Inautonews.com) Susie Wolff has slammed suggestions an all-female version of formula one should be launched. Alarmed at the current ...
Honda relying more on McLaren now – Boullier
Mar.29 (GMM/Inautonews.com) McLaren and Honda are working hard to make their new works collaboration gel. Back together in 2015 after ...
Ecclestone regrets letting Manor return
Mar.29 (GMM/Inautonews.com) Manor appears to have lost the backing of Bernie Ecclestone, the most powerful man in formula one. The ...
Rosberg denies ‘blocking’ Hamilton
Mar.29 (GMM/Inautonews.com) Nico Rosberg protested his innocence on Saturday, amid suspicions he 'blocked' teammate Lewis Hamilton in qualifying. It is ...
Boss plays down ‘naughty’ Rosberg-Hamilton move
Mar.28 (GMM/Inautonews.com) Toto Wolff on Saturday played down suggestions the tension between Mercedes' drivers could be set to reignite. During ...
Hamilton asked FIA to explain Alonso crash – report
Mar.28 (GMM/Inautonews.com) Lewis Hamilton played an unusually forceful role earlier this weekend in the drivers' FIA briefing, according to ...
Alonso upbeat despite Ferrari resurgence
Mar.28 (GMM/Inautonews.com) McLaren-Honda's all-champion driver lineup is putting a brave face on its situation. As in Australia, the two MP4-30s ...
‘No change’ after Pirelli’s China buyout – Hembery
Mar.28 (GMM/Inautonews.com) Pirelli's F1 project is "business as usual" despite the EUR 7 billion takeover of the historic Italian ...
Malaysia not ruling out night race
Mar.28 (GMM/Inautonews.com) Malaysia is looking into switching to a night race format in the future. Organisers of the now 17-year-old ...
Schumacher’s stepbrother on Germanwings passenger list
Mar.28 (GMM/Inautonews.com) Michael Schumacher's step-brother was on the passenger list of the ill-fated Germanwings flight, it has emerged. The Berliner ...
Ferrari adds EUR 100m to F1 budget – report
Mar.28 (GMM/Inautonews.com) Ferrari is closing the gap to dominant Mercedes in more ways than one, according to reports. The fabled ...
Alonso role meant no Indycar for Magnussen
Mar.28 (GMM/Inautonews.com) Kevin Magnussen has admitted he let an opportunity to race in Indycar this year slide when Fernando ...
Next hurdle for Manor is 107pc qualifying rule
Mar.28 (GMM/Inautonews.com) After the silence of Melbourne, Manor finally got its engines running in Malaysia. The resurrected Marussia team cited ...