Welcome to What’s Racing Through Washington newsletter, your one stop shop for all things Thoroughbred racing in Washington, D.C. With a new Congress having just been sworn in, it is increasingly important to understand the latest policy developments and potential impacts to our industry. We hope you will enjoy the newsletter and we look forward to engaging with you more on issues impacting our industry.

NTRA Congratulates Speaker McCarthy on leading the 118th Congress. 

House Leader Finally Becomes Clear

Rep. Kevin McCarthy (R-CA) is finally Speaker of the House after eking out a majority on the 15th ballot, ending a grueling four days of GOP infighting that left the country without a functioning chamber of the legislative branch. The vote, which concluded early morning Saturday, January 7, marks the completion of a comeback for the California Republican, who has risen throughout his party’s House leadership for more than a decade. Yet his victory also illuminated the fragility of his leadership mandate, as McCarthy was forced throughout four days of voting to make significant concessions to his right flank that will make him constantly vulnerable to challenge.

Leadership positions for committees of relevance to Thoroughbred racing are the following:

  • House Ways and Means Committee: Chair – Rep. Jason Smith (R-MO), Ranking Member – Rep. Richard Neal (D-MA)
  • House Agriculture Committee: Chair – Rep. G.T. Thompson (R-PA), Ranking – Rep. David Scott (D-GA)
  • House Appropriations Committee: Chair – Rep. Kay Granger (R-TX), Ranking – Rep. Rosa DeLauro (D-CT)
  • House Energy and Commerce Committee: Chair – Rep. Cathy McMorris Rodgers (R-WA), Ranking – Rep. Frank Pallone (D-NJ)
  • House Financial Services Committee: Chair – Rep. Patrick McHenry (R-NC), Ranking – Rep. Maxine Waters (D-CA)

 

2023 Farm Bill Already in Jeopardy?

The Farm Bill is an omnibus, multiyear law that governs an array of agricultural and food Programs, including many that impact the Thoroughbred industry. Although freestanding legislation or components of other major laws sometimes create or change agricultural policies, the periodic Farm Bill provides a predictable opportunity for policymakers to address agricultural and food issues in a comprehensive manner. In recent years, Congress has renewed the Farm Bill every four to six years. The current farm bill is set to expire on September 30, 2023.

The Farm Bill could present NTRA with a bipartisan vehicle to attempt to address many of our top priorities in this Congress. As some of you may remember, the 3-year deprecation schedule for racehorses under the age of 2 tax provision originated in the 2008 Farm Bill. However, with a razor thin and disparate majority, any Farm Bill will likely require even more bipartisan support than we’ve seen in the past. Some Freedom Caucus members are already eyeing a showdown over the Farm Bill. That means the House GOP will likely not be able to secure major cuts to food assistance or other major reforms, which would repel Democrats. Even more importantly, it’s possible some of the concessions McCarthy made to Freedom Caucus members in order to clinch the speakership will complicate how, or even if, a Farm Bill gets to the floor.

NTRA will continue to monitor all developments on the Farm Bill and will report any updates in the coming months.

 

Eclipse Awards Preview

This year’s 52nd annual Eclipse Awards will celebrate a year’s worth of outstanding performances, with a star-studded audience, culminating in the announcement of 2022 Horse of the Year. On Thursday January 26th in Palm Beach, Florida, the best of Thoroughbred racing will descend on one of America’s most glamorous resorts – The Breakers.

Presented by John Deere, Keeneland, and The Jockey Club, the Eclipse Awards will honor 17 winners in each of their respective categories. Additionally, the evening will recognize Jay Privman, recently retired and longtime national correspondent for Daily Racing Form, with a Special Eclipse Award for a career of excellence and outstanding contributions to the sport of Thoroughbred racing. The evening will also honor six Media Award winners and we will take time remembering those who we lost this past year, whose work has left an enduring mark on the industry. Additionally, the evening will salute the 2022 Horseplayer of the Year, David Harrison of Webster, NY, who topped a field of 623 entries to win last year’s NTRA National Horseplayers Championship in Las Vegas. And finally, the evening will recognize the FanDuel-NTRA Moment of the Year for 2022, as voted on by fans. All of these accolades will then culminate in the announcement of the 2022 Horse of the Year.

For those unable to attend the event, it will be broadcast live on FanDuel TV, Racetrack Television Network (RTN), and streamed on multiple outlets. The awards ceremony will be preceded by a Red-Carpet Show sponsored by Keeneland and broadcast beginning at 6:30 p.m. ET. The Red Carpet Show will be followed by the awards ceremony at 7:30 p.m. ET.

To stay up to date on the 52nd Annual Eclipse Awards and for more information, visit https://www.ntra.com/eclipse-awards/.