The new home of the United States Grand Prix looks set to suffer a blow with the loss of a $25 million package aimed at assisting with development of the Circuit of the Americas venue.

A decision was taken after the Texas State Senate's finance committee voted to withdraw its financial backing for the project, which is set to take F1 back to American shores next season for the first time since 2007 - when Lewis Hamilton took victory in the final race held at Indianapolis.

The amendment has still to go to the House of Representatives which could decide to restore the package, despite senator Dan Patrick saying it was difficult to justify spending the money on an F1 race at a time when the public is feeling the effects of the global economic downturn.

"At a time when people are stressed about their schools, stressed about their jobs, stressed about health care and nursing homes, for us to check off $25 million for race cars - I think we make people say where are their priorities," he told the KXAN radio station.

"That $25 million would pay for 500 teacher salaries - how can we explain to people we're spending that money on race cars?"

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