With the so-called fiscal cliff looming like a New Year's Day hangover, US lawmakers were able to strike an eleventh-hour deal that should prove beneficial to couples making less than $450,000 a year. Like any piece of US legislation, though, there was enough pork stuffed inside to ensure lobbyists and well-connected constituents remain happy. As a part of the deal, a few tax credits were extended that pertain to the automotive world.

On one hand, a 2009 tax credit was extended for electric motorcycles and scooters that gives buyers a break of up to 10-percent of the purchase price (up to $2,500). However, the deal also removed vehicles like golf carts from qualification. Another consequence of the fiscal cliff deal was that numerous biofuel tax credits were extended – our sister site, AutoblogGreen, broke the specifics down yesterday.

More unexpected is word that NASCAR track owners also benefited from the last-minute legislation with a huge tax break extension. The break, which allows track owners to deduct their facilities' deprecation over seven years (instead of the normal 39-year government estimate), will reportedly cost taxpayers more than $40 million per year. The NASCAR tax break was originally made law back in 2004, and was later extended under the TARP bailout package in 2008. CNN notes that the motorsports provision applies to the depreciation of facilities that hold at least seven days of racing each year, seat at least 70,000 fans and have concession stands that somehow benefit charitable organizations.

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