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 fixed4.22%4.27%
15 yr fixed3.19%3.24%
5/1 ARM3.30%3.33%
30 yr refi4.23%4.29%
15 yr refi3.21%3.27%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
More Galleries
Graffiti about crisis fills Athens' streets Artists are taking to the streets to express their views on the Greek crisis. More
My whirlwind 24 hours in Taiwan as a bridal supermodel Unlike the West, Taiwanese brides-to-be sit for hun sha ?? photo sessions before their actual wedding day. The photos are seen as a status symbol as well as a way to capture the brides' youth and glamor. More
8 startups that'll make your travel experience so much better Here are the new travel apps and services that will make trips easier, less time-consuming, and more fun for the every day business traveler. More

Special Offer