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Fiscal Cliff Deal Could Benefit Austin's Formula One Track

A little-noticed piece of the fiscal cliff deal approved by Congress this week could mean a windfall for the new Formula One racetrack in Austin. The so-called NASCAR tax credit allows racetracks to potentially write off millions of dollars in costs.

By Mark Dewey, KUT News
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Circuit of the Americas stadium - November 18, 2012.
Credit: Patrick Breen

A little-noticed piece of the "fiscal cliff" deal approved by Congress this week could mean a windfall for the new Formula One racetrack in Austin. The so-called NASCAR tax credit allows racetracks to potentially write off millions of dollars in costs.

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Mark Dewey

KUT NEWS

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