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Casino Subsidies reduced to horsemen

January 14, 2011

In a statement for the fiscal impact of the state, It is being purposed by Governor Mitch Daniels that the funds given to the state’s Thoroughbred horsemen will drop by 23 percent in 2012. These subsidies are provided by Indiana casinos. The money provided through breeder funds and purses.

Currently there are discussions on how to find ways to generate funds and cut spending in order to help the state’s deficit. The proposal of lowering the Thoroughbred industry subsidies would provide $18.1 million if approved. Currently, they receive $26.1 million. The state’s general fund would receive the difference, if approved.

Budget negotiations are expected to last until spring time.

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