NASCAR added to the bailout

SEC. 317. SEVEN-YEAR COST RECOVERY PERIOD FOR MOTORSPORTS RACING TRACK
FACILITY.
(a) In General.--Subparagraph (D) of section 168(i)(15) (relating to
termination) is amended by striking ``December 31, 2007'' and inserting
``December 31, 2009''.
(b) Effective Date.--The amendment made by this section shall apply
to property placed in service after December 31, 2007.

What this refers to is a method of depreciation for race tracks that's a handy little tax break. First introduced in a 2004 amendment to 1986 legislation, this tax break is available for "a racing track facility that is permanently situated on land and which during the applicable period is scheduled to host one or more racing events for automobiles (of any type), trucks, or motorcycles that are open to the public for the price of admission."

Anyone else out there reluctant about the Bailout? Speak up, and they'll give you money. Not money that already exists, mind you, or that the government has. This is money that will be created with printing presses. The dollar is going to fall. Count on it. Kudos to my cousin Karl presently earning a living in Barcelona; you're going to love the exchange rate in the years ahead...