The NTRA announced on Wednesday, March 11 its federal legislative agenda for the 114th Congress, which convened in January. Economic issues again dominate the agenda as tax matters re-emerge in the new Congress along with Internet gaming, immigration and racehorse drug and therapeutic medication regulation and testing.
“As always, we focus on legislation that directly affects our members and their Thoroughbred business activities, including horse racing, breeding and pari-mutuel wagering,” said NTRA President and CEO Alex Waldrop, who directs the association’s lobbying efforts. “Our agenda each year in Washington generally has two distinct objectives – offense and defense. We attempt to advance matters that can be beneficial to the industry and at the same time monitor and prepare to act on a range of issues that could pose harm to our industry.”
NTRA’s 2015 agenda primarily focuses on several major tax issues that impact the industry’s bottom line. Topping the list is continuation of the uniform three-year depreciation of Thoroughbred racehorses that was secured in 2014. The NTRA also will continue its efforts to modernize tax withholding and reporting requirements now in place for winning pari-mutuel wagers.
Click here to read full details about the NTRA’s federal legislative agenda.