Owning and operating a racetrack is a labor of love. Local tracks have anchored their communities for generations, creating jobs, supporting small businesses, and giving people a safe place to experience motorsports.
Protecting motorsports requires action at both the state and federal level.
At the state level, Right to Race legislation ensures fairness. If a racetrack was legally established and has operated responsibly, it should not be shut down by nuisance lawsuits brought long after the fact. SEMA is advancing Right to Race protections in Indiana, Minnesota, Kansas, Kentucky, Wisconsin, Oklahoma, Ohio, Mississippi, West Virginia, and more to keep local tracks open.
At the federal level, racetrack owners face a different but equally serious threat: the loss of tax certainty. Most tracks run on narrow margins, which requires owners to carefully invest in upgrades to our facilities. In order to make continued investments in our tracks, grandstands, viewing structures, and even the parking lots, we need to have tax certainty that U.S. tax code will allow us to recover the costs of these investments over seven years. If Congress doesn’t pass H.R. 2231 into law, the investments will revert to being depreciated over a period of up to 39 years.
H.R. 2231 which would empower small business racetrack owners across America to thrive and continue delivering the entertainment and much-needed community investment that our nation deserves. It is critical that Congress includes the Motorsports Fairness and Permanency Act in any legislation to extend the Tax Cuts and Jobs Act.
Support Right to Race in the States. Support H.R. 2231 in Congress. And urge lawmakers to include the Motorsports Fairness and Permanency Act in any extension of the Tax Cuts and Jobs Act—because when racing is protected, communities win.
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