Welcome to NTRA’s What’s Racing Through Washington newsletter, your one stop shop for all things Thoroughbred racing in Washington, D.C. As Congress heats up this summer, it is increasingly important to understand the latest policy developments and potential impacts facing our industry. We hope you will enjoy the newsletter and we look forward to engaging with you more on issues impacting the Thoroughbred industry.
Congress will be in recess for the entire month of August so our next newsletter will be issued in September.
Tom Rooney with Speaker of the House Kevin McCarthy (R-CA), Former Speaker of the House John Boehner (R-OH), and Congressman Brad Wenstrup (R-OH).
Thoroughbred Industry Reiterates Support of HISA
The National Thoroughbred Racing Association (NTRA) and industry leaders recently issued a strong endorsement of the Horseracing Integrity and Safety Authority (HISA) and its Racetrack Safety Program, which has now been in effect for 1 year. This program established a nationwide and consistent set of integrity and safety rules for Thoroughbred racing. Notably, since HISA’s implementation, all Thoroughbreds racing in the U.S. must now be registered with HISA, with over 48,000 horses and 32,000 individuals registered in the past year. Additionally, every Thoroughbred must undergo a pre-race veterinary inspection at any track. Furthermore, 46 racetracks have completed the initial Racetrack Safety Accreditation Audit as mandated by the program. These are just a small number of achievements which highlight the program’s first-year progress.
NTRA President and CEO Tom Rooney emphasized the critical role of HISA in enhancing racetrack safety nationwide. With all tracks adhering to the same national standards and rules for the first time ever, the sport has seen increased fairness and confidence among industry participants and customers whose wagers sustain it. The recent implementation of the Anti-Doping and Medication Program in May further demonstrates HISA’s commitment to much-needed positive reforms in Thoroughbred racing. HISA represents the essential solution to prioritize the health and safety of equine athletes, reassuring stakeholders and the public of the industry’s top priority. Although challenges remain, particularly evidenced by the difficult Triple Crown season, Rooney remains confident that collective efforts guided by HISA will lead the way forward.
Read the full statement and quotes of industry leaders HERE.
Tom Rooney with Congressman Dan Newhouse (R-WA) and the Congressman’s wife Joan Galvin.
Moderate Republicans Hold Tax Bill Hostage Over SALT Provisions
A group of House Republican centrists, primarily consisting of members from New York, New Jersey, and California, are demanding significant changes to their party’s tax plan and threatening to block its progress until their concerns are addressed. Their main objective is to obtain relief for taxpayers in their districts who have faced higher tax bills due to State and Local Tax (SALT) provisions included in the Tax Cuts and Jobs Act of 2017. The SALT tax refers to the State and Local Tax deduction, which allows taxpayers in the United States to deduct certain state and local taxes on their federal income tax returns. These taxes typically include state income taxes, property taxes, and sales taxes paid to state and local governments. The SALT deduction has been a contentious issue in tax policy debates, as some argue that it primarily benefits residents of high-tax states, while others contend that it helps alleviate the burden of double taxation and supports state and local governments’ funding for essential services.
In 2017, the Tax Cuts and Jobs Act implemented a cap on the SALT deduction, limiting it to $10,000 per year. This cap has generated ongoing discussions and negotiations regarding its impact on taxpayers, particularly in areas with higher state and local taxes. As pressure mounts to pass the bill, discussions on the SALT issue have intensified, with lawmakers seeking ways to lift the current cap and address the associated costs. The demanding group hails from vulnerable districts and won’t support any tax package that doesn’t address the deduction issue. The tax legislation being held hostage includes the restoration of a 100% bonus depreciation. NTRA has been engaging with this group of centrist Republicans to express the crucial role of 100% bonus depreciation for the equine economy, which in turn encourages robust business investment within districts and states.
Department of Homeland Security Appropriations Bill Includes Returning Worker Exemption
The FY ’24 Homeland Security Appropriations bill was passed by the House Appropriations Committee on Wednesday, June 21, with a vote of 33-25. Within this bill, an amendment was included to provide a returning worker exemption for the H-2B Visa program. The amendment states that a visa worker who has already been counted toward the numerical limitation during any of the three preceding fiscal years will be considered a returning worker and will not be counted again during fiscal year 2024. Although there is still a long way to go in the Appropriations process, this step is of significant importance. It presents a crucial opportunity for us to temporarily address the H-2B visa cap issue during this congress. The NTRA will continue to advocate before Congress for the passage of permanent solutions to the temporary worker challenges faced by the Thoroughbred industry.
Kentucky’s Sports Betting Launch Just Around the Corner, Less Than 60 Days Away
Governor Andy Beshear of Kentucky announced that Kentuckians will be able to make their first-ever sports bets within the state in less than 60 days. The Kentucky Horse Racing Commission unanimously approved emergency administrative regulations to govern sports wagering, which were immediately signed by the Governor at the Red Mile, a gaming and racing venue eligible to apply for a sports betting location. Retail sports betting locations are set to open on September 7, 2023, just in time for the NFL kick-off and the college football season, while mobile applications will be available on September 28, 2023. Starting from July 11, licensed horseracing facilities in Kentucky can apply for a retail sportsbook at their main location or at a licensed satellite location. The state expects that each facility will open a retail location, with many ready to launch on September 7. Each licensed facility will also be permitted to partner with up to three marketing platforms for mobile wagering, to be launched September 28.
For more information and regular updates please visit www.ntra.com.