NTRA Works to Eliminate Withholding Provision
Updated: Wednesday, April 10, 2002 8:23 AM
Posted: Wednesday, April 10, 2002 8:23 AM
National Thoroughbred Racing Association officials met with President Bush's legislative team and key members of Congress the week of April 8 in an effort to promote legislation to eliminate the 30% withholding on foreign wagers into United States pari-mutuel pools.
NTRA deputy commissioner Greg Avioli, head of the NTRA's legislative team, met with Bush's legislative aides at the White House. Avioli and NTRA commissioner Tim Smith met with Representative Bill Thomas, chairman of the House Ways and Means Committee.
"We are framing this as a trade issue and that seems to be resonating with legislators," Avioli said. "Eliminating or reducing this withholding is an important step toward the goal of significantly increasing the export of U.S. racing to the $85-billion international Thoroughbred wagering market."
The NTRA continues to work with Congress and U.S. trade representatives to address other trade barriers to international wagering on U.S. races, including protectionist laws in other racing countries that prohibit wagering into foreign pari-mutuel pools.
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