Walorski Introduces Motorsports Fairness and Permanency Act
Bipartisan Legislation Would Eliminate Burdens, Provide Tax Certainty for Motorsports Industry
WASHINGTON – U.S. Rep. Jackie Walorski (R-Ind.) today introduced bipartisan legislation, the Motorsports Fairness and Permanency Act of 2021, to make permanent the seven-year cost recovery period for motorsports entertainment complexes. This commonsense solution would provide certainty and equip industry leaders to make long-term investments in safe racing environments.
“As Hoosiers know firsthand, the motorsports industry supports a beloved American pastime and creates family-sustaining jobs in our community,” Congresswoman Walorski said. “This commonsense legislation will provide long-term certainty to facilities like the Indianapolis Motor Speedway – home of the Indy 500 – so they can continue to invest in our communities, create good jobs, and drive economic growth across the country.”
Congresswoman Walorski introduced this bipartisan legislation alongside Reps. Mike Thompson (D-Calif.), Bill Posey (R-Fla.), Terri Sewell (D-Ala.), Tom Reed (R-N.Y.), and Stephanie Murphy (D-Fla.).
Walorski represents the 2nd Congressional District of Indiana, serving as a member of the House Ways and Means Committee and the Ranking Member of the House Ethics Committee.