Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

7 of 7
BACKNEXT
Place your bets!
Place your bets!
Horse racing is a $2 billion industry in New York state, and the government wants its cut.

Gov. Andrew Cuomo is proposing a 2.75% surcharge on purses at horse races around the state, including the famous Belmont Stakes. A "purse" refers to the money collected and paid out to the winning jockeys in a race.

That charge is expected to raise $7.6 million for the state next year.

The money is meant to close budget gaps at New York's state agency in charge of regulating horse racing and casinos.



NEXT
Last updated March 03 2011: 2:08 PM ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.09%4.03%
15 yr fixed3.25%3.18%
5/1 ARM3.42%3.29%
30 yr refi4.12%4.07%
15 yr refi3.29%3.19%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
More Galleries
The Obama economy in 10 charts President Obama came to office in January 2009 in the midst of the Great Recession. Much has turned around since then, but he's been criticized for a slow recovery. More
Best Jobs in America CNNMoney/PayScale's top 100 careers with big growth, great pay and satisfying work. More
Top-paying jobs Anesthesiologists take home a median $335,000 in salary and bonus annually. What other great careers from CNNMoney and PayScale.com's list of Best Jobs in America offer hefty paychecks? More

Special Offer