The National Thoroughbred Racing Association has released the 2015 Annual Report for its bipartisan federal Political Action Committee, Horse PAC.
Horse PAC disbursed $288,500 in 2015, a 27% increase over the prior year's total of $227,000 and the second-largest disbursement for a non-election year since the founding of Horse PAC in 2002. Horse PAC supported 45 candidates and 22 Leadership and Congressional PACs.
Under the leadership of Chairman William S. Farish Jr., the Horse PAC Board of Directors raised $276,742 in 2015, its second-largest total since the start of the recession in 2008 and a slight dip from 2014's $293,405. The funds were raised from 166 NTRA members, including 36 first-time donors and 40 donors who gave at the maximum level of $5,000.
The report highlights steps taken toward modernization of income tax withholding and reporting for horseplayers. Two appropriations bills passed by Congress carried provisions backed by the NTRA and subsequently signed into law by President Obama–three-year depreciation for racehorses, bonus depreciation of 50 percent, the Section 179 expense allowance for major purchases (now permanent), and relief for H-2B visa employers such as trainers.
“Our industry's legislative achievements would not be possible without the dynamic interplay of NTRA's federal lobbying and Horse PAC,” said Margaret E. Hendershot, Horse PAC President.
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