The Senate overwhelmingly passed a bill Tuesday that would grant tax breaks to help build a new thoroughbred racetrack in Western Washington.
HB1248 would allow deferrals of retail sales and use tax on all materials, equipment and labor used to build or equip the track.
Under a Senate amendment, the taxes would be deferred, interest free for five years. They would be repaid over the next 10 years.
Western Washington has been without a thoroughbred track since 1992, when Longacres was bought by The Boeing Co. for an office complex.
sponsored According to two 2015 surveys, 62 percent of Americans do not have enough savings to handle an unexpected emergency, much less any long-term plans.