Jan 2, 2014, 12:39 PM EDT
This is one from the business of racing department, but the so-called “NASCAR loophole” that accelerates the depreciation of race tracks, and thus provided a small tax break for builders, is pretty much gone for 2014, per a report from the Washington Post.
According to that report, this break allowed NASCAR tracks to, in theory, compete on a level playing field with other theme parks. An earlier Post report from June 2012 said the cut expired itself at the end of 2011, as it was not renewed by Congress. The revenue impact though, wouldn’t happen until Fiscal Year 2013.
The loophole could occur because, according to a 2012 Daily Beast report, NASCAR racetrack owners could deduct the depreciation over seven years instead of the government-estimated 39 years. The cost to the government was estimated at that time at $40 million per year, and the cost to extend, per the Post today, would be $50 million annually.
Apr 18, 2015, 6:44 PM EDT
NBCSN IndyCar analyst Townsend Bell returns to the Indianapolis 500 with Dreyer & Reinbold/Kingdom Racing.
Apr 18, 2015, 6:19 PM EDT
Qualifying underway from Long Beach.
Apr 18, 2015, 5:52 PM EDT
IndyCar qualifying about to go on NBCSN and NBC Sports Live Extra.
Apr 18, 2015, 5:28 PM EDT
Jack Harvey will start from the pole for Sunday’s Indy Lights race in Long Beach.
Apr 18, 2015, 5:00 PM EDT
American driver Alexander Rossi performs admirably to finish third, having lost the lead of the race with two laps remaining.
Apr 18, 2015, 3:15 PM EDT
Despite expecting to struggle in Bahrain, Sainz will start the race from ninth place on Sunday.
Apr 18, 2015, 2:40 PM EDT
Grosjean believes he could have qualified higher up the grid, but is pleased to have maintained his 100% Q3 record in 2015.
Apr 18, 2015, 2:12 PM EDT
Simon Pagenaud led IndyCar’s final practice session in Long Beach.
Apr 18, 2015, 2:07 PM EDT
Daniel Ricciardo fares far better in the sister Red Bull, qualifying seventh in Bahrain.
Apr 18, 2015, 2:00 PM EDT
Former Red Bull driver believes that the focus should not be on tire management, but instead on driver ability and pace.
Apr 18, 2015, 1:30 PM EDT
Rosberg misses out on the front row for the second time in three races, exposing Mercedes to the threat from Ferrari in the race.
Apr 18, 2015, 1:04 PM EDT
Conor Daly gets a last-minute IndyCar shot with Dale Coyne Racing.
Apr 18, 2015, 1:00 PM EDT
Four-time world champion qualified second for the Bahrain Grand Prix, splitting the Mercedes drivers at the front of the grid.
Apr 18, 2015, 12:30 PM EDT
The defending F1 world champion feels more at ease with this year’s car in Bahrain, allowing him to dominate qualifying on Saturday.
Apr 18, 2015, 10:00 AM EDT
John Booth says that the long-term future of the team is being planned and secured thanks to fresh investment.
Apr 18, 2015, 9:02 AM EDT
The defending world champion edges out Ferrari’s Sebastian Vettel and Mercedes teammate Nico Rosberg in FP3 ahead of qualifying later today.
Apr 18, 2015, 7:45 AM EDT
Mercedes and Ferrari continue to exchange blows in Bahrain, but who will get the upper hand ahead of qualifying?
- Simon Pagenaud fastest in IndyCar’s final Long Beach practice 0
- Hamilton eases to fourth straight pole position in Bahrain 0
- Hamilton closes out Bahrain GP practice on top 0
- INDYCAR confirms more aero kit updates coming to Long Beach 1
- Rocky Moran Jr. to replace Huertas in Coyne’s No. 18 for Long Beach 7
- Rosberg heads up Mercedes one-two in Bahrain FP2 1
- Kimi Raikkonen quickest in first practice for Bahrain GP 2