Lawmakers Want Pari-Mutuel Regs to Cross Finish Line

April 4, 2017

The Honorable Steven T. Mnuchin
Secretary
U.S. Department of Treasury
1500 Pennsylvania Avenue, NW
Washington, DC 20220

Dear Secretary Mnuchin:

We are writing to thank the Department of Treasury for their work to issue proposed regulations modernizing the way taxes on pari-mutuel winnings are reported and withheld. We strongly encourage you to finalize these rules as soon as possible.

Last December's release of these proposed rules (REG-123841-16) represented the culmination of years of hard work and collaboration between industry stakeholders, Members of Congress, and the professional staff of both Treasury and the IRS to respond to the concerns raised by thousands of consumers.

As you know, these regulations would update existing Treasury rules (Treas. Reg. Sec. 31-3402(q)-1)) governing the reporting and withholding of certain pari-mutuel wagers. These rules have not been updated since the 1970s and we were pleased that Treasury responded to our requests to bring these regulations up to date. The proposal better reflects the current pari-mutuel wagering environment and will lead to increased compliance while reducing burdensome paperwork, creating an overall system that will be more accurate and equitable for taxpayers.

We look forward to these modernized rules being fully implemented and request that you act on this matter as quickly as practicable.

Sincerely,

Patrick Meehan
Member of Congress

John Yarmuth
Member of Congress

Hal Roger
Member of Congress

Bill Pascrell Jr.
Member of Congress

Devin Nunes
Member of Congress

Donald Norcross
Member of Congress

Thomas Rooney
Member of Congress

Paul D. Tonko
Member of Congress

Andy Barr
Member of Congress

Kurt Schrader
Member of Congress

Brett Guthrie
Member of Congress

James Comer
Member of Congress