Purse Surcharge Cut

I've learned from an informed source that the 2.75% surcharge on all horse racing purse earnings in New York State was cut from the budget agreed to by Governor Cuomo and legislative leaders on Sunday. Horsemen will greet this as good news; however no funding alternative for the New York State Racing and Wagering Board was inserted to replace the $7 million in revenue that the surcharge was expected to raise. So, while we're all glad to know that our hard working horsemen will not have their income taxed any further, it does leave the sport's regulator without funding. One way or another, that will have to be addressed.