The National Thoroughbred Racing Association (NTRA) released the 2016 Annual Report for its bipartisan federal Political Action Committee, Horse PAC Tuesday.
Horse PAC disbursed $290,500 to federal political candidates and PACs in 2016, the largest amount since 2008. Horse PAC supported 54 in-cycle candidates, with 51 winning in the November elections.
The PAC annual report details legislative activities for the 2015/2016 Congressional cycle, as well as providing an overview of the NTRA's successful efforts to secure a regulatory change in the way the Internal Revenue Service and the Treasury Department treat pari-mutuel proceeds for horseplayers. The regulatory change–secured with the support of key Members of Congress–is expected to take effect within the next few months after an obligatory comment period that runs through Mar. 30.
Under the leadership of Chairman William S. Farish Jr., the Horse PAC Board of Directors raised $498,737 for the 2015/2016 fundraising cycle. More than 135 NTRA members contributed to Horse PAC®, including many first-time donors from the horseplayer community, who joined in supporting efforts to modernize the tax code.
“Horse PAC continues to play a vital role in the NTRA's efforts on Capitol Hill,” Horse PAC President Margaret E. Hendershot said. “Members of Congress remain our strongest link to legislation and regulation that will help our industry grow and thrive.”
A PDF version of the report can be found online here. For more information on NTRA's federal legislative efforts, visit www.SupportHorseRacing.org.
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