According to reports, on Wednesday, May 9 the Pennsylvania Senate overwhelmingly approved a spending plan which does not include the proposed transfer of $72 million from the state's horse-racing improvement fund to other programs

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An article by Bloomberg Businessweek explains that the Senate voted 39-8 in favour of the plan, which was then sent to the House. Negotiations will surely be at a fever pitch over the upcoming weeks, as, according to Bloomberg Businessweek, the budget must be in place by the first of July.

In a report by harnessracing.com, Meadows Standardbred Owners Association Executive Director Kim Hankins said that while the state's racing industry fared well with the Senate vote, they are not out of the woods yet.

"We're encouraged, but the budget is presently being reviewed by the House," Hankins was quoted as saying. "Then the Senate and House leadership will work on the final budget, which then moves on to the governor. We don't really expect the budget to be finalized until the second or third week of June."

Bloomberg Businessweek has quoted Majority Leader Dominic Pileggi as saying, "This plan does not create a single new program. It does not raise a single tax. This is a responsible, sustainable state budget."

The report goes on to state that the Senate spending plan for 2012-13 is nearly two per cent more than PA Governor Tom Corbett proposed, but still less than the three previous fiscal years because of the expiration of federal stimulus money and an ongoing recovery from the recession.

(With files from Bloomberg Businessweek and harnessracing.com)