District: Louisiana’s 3rd in South Louisiana – home to Delta Downs Racetrack.
Experience: Rep. Boustany was first elected to Congress in 2004 and is serving his 5th term.
Key Committee: Rep. Boustany serves on the House Ways and Means Committee. This committee has jurisdiction over tax, trade, and other revenue measures.
Impact on horse racing industry: Rep. Boustany is Chair of the Oversight Subcommittee which serves as a check and balance on the functions of the IRS. Rep. Boustany has been at the forefront of an effort by the NTRA legislative team and Members of Congress to reduce horseplayer tax burden by redefining the cost of a wager through the Department of Treasury, which includes the IRS. The current definition triggers reporting and withholding requirements that are not in line with other forms of gambling and do not reflect current wagering habits.
In June, the NTRA legislative team facilitated the delivery of a letter to the Secretary of the Treasury seeking a favorable change in the tax treatment of certain pari-mutuel wagers. The letter was signed by 17 Congressmen and the NTRA is working with other Members to build support.