Honda F1 website

OCTOBER 13, 2004

US government aids racing industry

The US Senate has just passed the new Corporate Tax Bill which cuts taxes for a number of industry sectors including the race track owners who will benefit from tax breaks as they will now be able to write off the cost of investment in grandstand construction over a period of seven years rather than the current 15 years. It is estimated that this will save the circuit owners around $92m over the next 10 years and will act as an incentive for similar construction, which will help to boost the industry still further.