NEW YORK CITY (Thursday, June 5, 2014) – Seventeen members of Congress signed a letter delivered to the Department of Treasury on Tuesday requesting clarification to regulations regarding the way pari-mutuel winnings are calculated for tax purposes.
The letter, which has garnered bipartisan support, was co-authored by Rep. Charles Boustany (R-LA) and Rep. John Yarmuth (D-KY). The additional signatories are Rep. Andy Barr (R-KY), Rep. Chris Gibson (R-NY), Rep. Tim Griffin (R-AR), Rep. Brett Guthrie (R-KY), Rep. David Jolly (R-FL), Rep. Rich Nugent (R-FL), Rep. Devin Nunes (R-CA), Rep. Frank Pallone (D-NJ), Rep. Bill Pascrell Jr. (D-NJ), Rep. Tom Reed (R-NY), Rep. Hal Rogers (R-KY), Rep. Tom Rooney (R-FL), Rep. Mike Thompson (D-CA), Rep. Paul Tonko (D-NY) and Rep. Todd Young (R-IN).
Nearly 3,000 citizens signed a Change.org petition in support of the clarification within its first 48 hours. The petition is available here: http://chn.ge/RXZ6DW.
“It is encouraging that this important clarification has received bipartisan support from members of Congress representing so many states. This demonstrates the significant economic contribution our industry makes across the country,” said NTRA President and CEO Alex Waldrop. “We encourage everyone associated with horseracing – fans, players, tracks, horsemen, ADWs and others – to sign the petition and send a strong message to Washington that this is an issue that impacts everyone in our sport. This message will greatly assist the NTRA legislative team as we continue to work with U.S. Senators and other members of Congress for additional support.”
A copy of the full Boustany-Yarmuth letter can be accessed here: http://ntra.kinsta.cloud/media/8717067/Treasury%20Pari-Mutuel%20Ltr.pdf.
For more details on the effort, see Tuesday’s initial release, archived here:
/en/news-media/press-releases/2014/6/3/key-lawmakers-seek-tax-reporting-withholding-clarification.