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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 tax breaks articles

Chrysler gets tax breaks for Indiana transmission plant
Chrysler Group has received approval for tax breaks from the Tipton County Council in Indiana, where it wants to start operating a transmission plant. The local council approved a 10-year tax ...
Brazil auto sales and production reach record levels in August
Brazil car manufacturing and sales have reached record levels in August, fueled by government tax breaks. Sales rose 15.3 percent, while vehicle output increased 10.6 percent in August from July, the ...
Brazil’s Car Production Boosted by Tax Breaks
Auto sales in Brazil, the fourth largest auto market, were revived by the government’s tax breaks. Brazil’s vehicle production in July saw an increase of 8.8%, as GM agreed to postpone ...
PSA Peugeot Citroen seeks state aid to prevent job loses
The struggling carmaker PSA Peugeot Citroen wants government aid on top of wage concessions as a condition for averting a second French auto plant closure, Reuters reports citing internal sources ...
Japanese carmakers counting on incentives for domestic growth
The auto industry in Japan is hoping the governments' incentives for eco-friendly cars will boost sales by about 900,000 vehicles in 2012. According to Toshiyuki Shiga, the head of the Japan ...
U.S. to end tax breaks for EV chargers
The U.S. government will not renew a tax credit for installing home and commercial charging equipment. The tax credit for chargers ends on December 31, although proponents press Congress to renew ...
Japanese automakers expect recovery in domestic demand following introduction of subsidies
Japan's carmakers are optimistic about sales in their home market next year, as the government extends tax breaks and introduces subsidies. Demand for cars, trucks and buses in Japan is expected ...
Japan extends tax breaks for eco-friendly vehicles through April 2015
Japan announced the extension of tax breaks for fuel-efficient vehicles by three more years, to April 2015. The breaks were going to expire in April 2012, but the Japanese government decided ...
Ohio to announce tax breaks for Ford
The state of Ohio will provide tax breaks to Ford Motor Company, which will spend $128 million to retool its assembly plant in Avon Lake, near Cleveland, to build commercial ...

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