Congresswoman Tenney Reintroduces the Motorsports Fairness and Permanency Act

Oswego, New York - Congresswoman Claudia Tenney (NY-24) today reintroduced the bipartisan Motorsports Fairness and Permanency Act to support local racetracks and incentivize more investments in motorsports facilities.

Additional cosponsors of this legislation include Representatives Mike Thompson (CA-4), Richard Hudson (NC-9), Terri Sewell (AL-7), Rudy Yakym (IN-2), and Debbie Wasserman Schultz (FL-25).

Specifically, this legislation makes permanent the seven-year cost recovery period for investments in motorsports entertainment complexes to promote certainty in the industry so these complexes can continue to operate, create jobs, and provide family friendly fun for local communities.

NY-24 is home to many racetracks, including the Oswego Speedway, and is just miles away from Watkins Glen International, one of the most historic and famous road racing tracks in the United States located in Schuyler County. The Watkins Glen International provides jobs for hundreds of New Yorkers across the region.

"The Oswego Speedway and Watkins Glen are just a few of many racetracks located in Upstate New York that have provided our region with family fun, quality jobs, and economic opportunity. The Motorsports Fairness and Permanency Act will sustain the long-term financial health and competitiveness of motorsports facilities by making the seven-year cost recovery period permanent, providing the industry the reassurance it needs to thrive and grow. Motorsports venues require continual investments to maintain infrastructure, incorporate the newest safety upgrades, and improve the fan experience. A shorter depreciation schedule provides the financial flexibility necessary to make these investments. Doing so will ensure this American pastime continues to generate jobs and boost our economy," said Congresswoman Tenney.

"The Motorsports Fairness and Permanency Act is vital for race tracks across America. By establishing a permanent seven-year cost recovery period, this legislation enables facilities like ours to invest confidently in crucial improvements. This stability not only preserves the jobs and economic impact we provide locally, but also ensures we can continue delivering family-friendly entertainment for generations to come. We appreciate Congresswoman Tenney's leadership and commitment to this important legislation that will secure the future of motorsports in communities like ours nationwide," said Caylee Demm, Track Manager, Oswego Speedway.

"In introducing the Motorsports Fairness and Permanency Act, Congresswoman Tenney is addressing an important issue for us at Watkins Glen International and motorsports facilities all across the country who are facing uncertainty in the tax code. This legislation would codify policy that had been supported by Congress for over two decades, providing much needed clarity for motorsports facilities when considering how to reinvest private capital into their properties. This Motorsports Fairness and Permanency Act will ultimately help ensure motorsports facilities can continue to grow our business and drive significant economic activity to local, regional and state economies," said Dawn Burlew, President, Watkins Glen International.

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