New Jersey budget deal reached

Monmouth Park and the Meadowlands could resume racing and simulcasting on

Friday or Saturday after New Jersey Gov. Jon Corzine and state legislators

reached a tentative agreement Thursday afternoon on a fiscal year 2007 budget. The deal will raise the state sales tax from 6 percent to 7 percent with half of

the increase earmarked for a reduction in property taxes, which are among the

highest in the nation.

Corzine said Thursday afternoon that he was hopeful that the New Jersey

Racing Commission could be operational

within 24 to 36 hours. He said that as soon as the bills are passed by the state

Assembly and Senate, he will sign an executive order ending

the government shutdown.

The six-day impasse resulted in a shutdown of all non-essential state services.

Live racing and simulcasting at Monmouth Park and the Meadowlands ceased

Wednesday.

Monmouth Park canceled live racing and simulcasting on Thursday as did the Meadowlands,

which lost its third live harness racing program. Monmouth Park is scheduled to

host the $750,000 United Nations S. (G1) on Saturday.

"While there has been progress on the budget issue, nothing has been

finalized in time to allow us to move forward with racing on Thursday night,"

Meadowlands Vice President for Racing Operations Chris McErlean said. "We tried

to wait until the last possible moment, but actions were not swift enough to

allow us to hold racing."