Subsidies provided by Indiana casinos to the state’s Thoroughbred horsemen through purses and breeders’ funds would drop 23 percent in 2012 under a proposed budget introduced by Gov. Mitch Daniels, according to a fiscal impact statement distributed by the state.
Subsidies for the Thoroughbred industry would drop from a projected $26.1 million in 2012 to $18.1 million if the horse racing cuts in the budget are approved, according to the statement. Subsidies to the Standardbred industry would be cut a similar amount, with the savings transferred to the state’s general fund.