NASCAR tracks stand to save an estimated $70 million — in other words, NASCAR tracks will hang onto $70 mil that otherwise would have ended up in the U.S. Treasury — due to a tax credit extension included in the fiscal cliff deal.
On Tuesday a long-running fiscal cliff crisis was finally resolved, after Congress voted in favor of a White House compromise that will impose tax rises on the wealthiest and spare the working-class and middle-class.
President Barack Obama held out hope for a last-minute agreement to avoid the “fiscal cliff” of tax increases and spending cuts after a meeting with congressional leaders, scolding Congress for leaving the problem unresolved until the eleventh hour.
President Barack Obama ends his Hawaiian vacation and leaves for Washington aiming to make a bid to reach a fiscal-cliff deal before the year ends.
Republicans and Democrats held “fiscal cliff” negotiations on Wednesday, but neither compromises nor solutions were reached.
Buried in the stories and slightly visible behind the public posturing, signs are emerging that a deal considering ‘fiscal cliff’ is possible.