U.S. Rep. Jackie Walorski (R-IN) on July 22 introduced a bipartisan bill that would provide certainty and equip industry leaders to make long-term investments in safe motor-racing environments.
The Motorsports Fairness and Permanency Act of 2021, H.R. 4674, which Rep. Walorski cosponsored with bill sponsor U.S. Rep. Mike Thompson (D-CA), would make permanent the seven-year cost recovery period for motorsports entertainment complexes, according to the text of the bill.
“As Hoosiers know firsthand, the motorsports industry supports a beloved American pastime and creates family-sustaining jobs in our community,” Rep. 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.”
H.R. 4674 has been referred to the U.S. House Ways and Means Committee for consideration.