MARTINSIVLLE, Va.—
Tax breaks for everyone from Hollywood to Martinsville filled the so called fiscal cliff law.
Many in Congress admit they didn't realize 74 billion dollars worth of new spending was in the bill first introduced to reduce the deficit.
The new law relieves tension at racetracks like Martinsville Speedway.
It's parent company, International Speedway Corporation tells WDBJ7 it would have been forced to cut 120 million dollars worth of spending and fired more than 700 employees if the bill wasn't passed.
The law allows racetrack owners faster tax write-off's that make way for renovations to tracks and stadiums.
All three Congressmen in our area voted against the bill.
