Monday, May 18, 2009

HANA & NTRA Action on the Withholding Tax

As some horseplayers know, 'The Pari-Mutuel and Equality Act of 2009 (H.R. 2140) was recently introduced in the U.S. House of Representatives. The bill would eliminate the automatic 25% withholding on pari-mutuel winnings of $5,000 or more.' The effects of this being passed is not only good for a horsplayer, big and small, but good for the business overall. More money in a horseplayer's pocket after a score is not placed in a sock, the bulk of it is rebet, which promotes churn, which promotes handle growth, which grows racing.

The NTRA has been the driving force with this, and we would like to join them and help.

How can you help? It is easy. All you have to do is click this link. It takes you to an online emailer. This emailer will directly send a message to your representative urging them to support the bill.

For more background on the tax and the bill the items are here:

Bill Introduced

Congressman Yarmuth's Press release.

The Bill itself.

Thank you for your support on this issue.

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