Attica Raceway Park, located in Attica, Ohio, will increase its weekly purses and point funds in 2024.

"The cost of racing has increased, and we recognize that and have been working hard to try and help our loyal race teams," said Justin Liskai, Attica Raceway Park director of operations. "Thanks to generous support from our marketing partners and fans, we will be able to add more money to our weekly purses. The total point fund for our 410 and 305 sprints and late models will be $50,000."

For 2024, all non-sanctioned 410 sprint car events will pay $4,000 to win ($400 to start), and a total of $2,600 has been added to the weekly 410 purse. The purse for the weekly 305 sprints has also increased, track officials said, but an exact figure was not provided.

For more information, visit atticaracewaypark.com.

The U.S. House of Representatives passed H.R. 7024, the Tax Relief for American Families and Workers Act of 2024, with strong bipartisan support. The PRI- and SEMA-supported bill passed by a margin of 357-70 and now awaits consideration in the U.S. Senate's Finance Committee. 

The bipartisan $78 billion tax bill allows for the reinstatement of the expensing of research and development (R&D) and investments in equipment, reduces reporting for small businesses using subcontractors, increases the small business expensing cap by nearly 30% and expands the Child Tax Credit through 2025. 

PRI and SEMA member companies can benefit from the following provisions in the bill: 

Restores immediate expensing for R&D for tax years 2021 through 2025: 

• Currently, businesses must deduct R&D expenses for research done in the U.S. over five years and over 15 years for research outside the U.S. 
• Allows businesses of all sizes to deduct the cost of their U.S.-based R&D investments during the year they were made--encouraging American innovation and improving our competitive position versus China and the rest of the world. 
• The provision delays the date when taxpayers must begin deducting their research or experimental costs over five- and 15-year periods until tax year 2026. 

Interest deductibility:

• Provides flexibility for businesses forced to borrow at higher interest rates to meet their payroll obligations and expand their operations. 
• Starting in 2022, employers faced a more restrictive limit on the amount of business interest that they can deduct each year. Instead of using "earnings before interest, taxes, depreciation and amortization," companies can deduct interest expenses only up to 30% of their "earnings before interest and taxes" currently.

100% expensing:

• Restores full and immediate expensing for investments in machines, equipment and vehicles. 
• Currently, businesses can only deduct 80% of the cost of equipment, machinery and vehicles, with the rest of the deduction claimed over the life of each asset. 

Expand small business expensing cap:  

• Increases the amount of investment that a small business can immediately write off to $1.29 million, a $290,000 increase above the current $1 million cap.  
• Allows a taxpayer to expense the cost of qualifying property rather than recover such costs through tax depreciation deductions, subject to limitation. Qualifying property is defined as tangible personal property, off-the-shelf computer software and qualified real property that is purchased for use in the active conduct of a trade or business.  

Cut red tape for small businesses:  

• Adjusts the reporting threshold for businesses that use subcontract labor from $600 to $1,000 and indexes it for inflation, making the first update to the threshold since the 1950s.  

The Tax Relief for American Families and Workers Act is the product of bipartisan negotiations by House Ways and Means Committee Chair Jason Smith (R-MO) and Senate Finance Committee Chair Ron Wyden (D-OR). PRI and SEMA continue to advocate for legislative measures that benefit our 7,000 member companies that make up the specialty automotive aftermarket industry, which supports over 1.3 million jobs across the U.S. and contributes over $336 billion to the American economy each year. 

For more information, contact Tiffany Cipoletti, PRI's and SEMA's manager of federal government affairs, at tiffanyc@sema.org.  

NASCAR has officially launched the NASCAR Regional brand and platform, which encompasses the touring and weekly series of NASCAR, including the ARCA Menards Series, ARCA Menards Series East, ARCA Menards Series West, NASCAR Whelen Modified Tour and the Advance Auto Parts Weekly Series.

Formerly NASCAR Roots, the NASCAR Regional brand and platform will better position the sport to grow awareness around those series, the sanctioning body said. In addition, the rebrand ushers in a more organized and recognizable platform that provides concise sightlines of a "ladder system" from beginning to end.  

For more information, visit nascar.com/regional.

Excess Injectors, an Australia-based provider of performance fuel injectors, has officially launched its product line in North America through Summit Racing Equipment.

"We are thrilled to launch in North America through Summit Racing Equipment. Not only are we proud of the new standard we've created for the fuel injector industry, but thrilled to offer the transparency of the data collected on each injector to prove why our sets are the most exact-matched sets on the market," said Simon Richards, principal of Excess Injectors." Excess Injectors wants to make it easy for anyone to get the most performance from their injectors. It says a lot that Summit—known for offering the best performance parts—is where you can go to purchase our injector sets."

For more information, visit excessinjectors.com.

NASCAR has announced 10 trailblazers and inclusion advocates as part of the 16th annual NASCAR Drive for Diversity Awards. Among the honorees are crew members, league partners, and a public school system, all of whom are making a real difference in the sport. And new this year, Ally Financial--the nation's largest digital-only bank and Official Consumer Bank of NASCAR--will be the first-ever presenting partner of the ceremony.

"Today we celebrate 10 individuals playing a key role growing our sport and welcoming new fans by making it more inclusive," said NASCAR president, Steve Phelps. "Having the support of sponsors like Ally is crucial because we share a common goal of making racing inclusive for all. We're elated to have them as the presenting sponsor of the NASCAR Drive for Diversity Awards."

Ally, widely known for its commitment to inclusivity on and off the track, entered racing in 2019 as a full-season sponsor of the Hendrick Motorsports No. 48 Team and expanded its presence by becoming an official NASCAR partner in 2023. Ally has since initiated a series of initiatives designed to elevate the contributions of diverse members of the racing community.

The 2024 NASCAR Drive for Diversity Awards recipients are as follows:

Crew Member: Mike Metcalf

• Metcalf previously worked as the co-head pit crew coach and director of culture and community at Trackhouse Racing. The Charlotte native and former football student-athlete graduated with honors from Appalachian State University. Metcalf first entered the world of NASCAR as a pit crew member in 2006. Metcalf started coaching pit crews in addition to competing in 2012 and is one of the few pit crew coaches to be a pit crew champion as both a crew member (08') and a coach (22').

Developmental Series Driver: Zach Herrin

• Herrin races part-time in the ARCA Menards Series. He's an out driver who has been an exemplary advocate for LGBTQ+ people in the motorsports industry, integrating inclusion into his ethos through building partnerships with organizations such as Lambda Legal and representing the sport in a positive light both on and off the race track.

Sam Belnavis Industry Ambassador: Jefferson Hodges, Team Penske

• Hodges serves as NASCAR team manager for Team Penske and previously worked as Rev Racing's general manager and director of competition for 10 years. Hodges was instrumental in the growth and stability of the Rev Racing organization, helping train, advance and guide over 100 developmental drivers during his stint. Currently at Team Penske, Hodges continues to keep diversity, equity and inclusion (DEI) efforts at the forefront by working with Rev Racing to identify potential pit crew recruits.

Institution: Chicago Public Schools

• NASCAR and Chicago Public Schools collaborated to help introduce the sport to a new generation of racing fans when 43 CPS STEM and STEAM schools and 22,000 students from across the district participated in an in-classroom design challenge focused on driver helmets in 2023. Winning teams of K-12 students were invited to the inaugural STEAM Fest to compete in an engineering-focused design challenge with help from NASCAR Cup Series driver Daniel Suárez and a team of STEM professionals from the NASCAR industry. Following the success of the 2023 program, NASCAR's Research and Development Team has furthered its partnership with CPS to build a NASCAR-themed STEAM curriculum to be rolled out to an additional 17,000+ 8th graders across the city in 2024.

National Series Driver: Tyler Reddick, 23XI Racing

• Reddick, driver of the No. 45 23XI Racing Toyota, has participated in several events to promote dialogue on social justice as an integral part of NASCAR's diversity and inclusion work with its drivers. Reddick also leverages his partnership with Jordan Brand and his team, 23XI Racing, to engage celebrities and influencers like J. Balvin as an opportunity to expand NASCAR's reach to diverse audiences.

Outstanding Intern: Chandler Love, University of Miami

• Love joined the NASCAR Diversity Internship Program with a strong passion for human resources. Over the summer, Chandler supported various functions within NASCAR's HR department, contributing significantly to processes and the overall employee experience. Chandler's dedication and exceptional performance earned her a part-time opportunity with NASCAR as a learning administrator as she completes her senior year at the University of Miami.

Partner: Keurig Dr Pepper

• Keurig Dr Pepper has shown commitment to NASCAR diversity, equity & inclusion goals through the Dr Pepper 23XI SPEED Institute Tuition Program, which began in 2021. Through this alliance between Dr Pepper and 23XI Racing, Dr Pepper has offered vital financial support by awarding 23 deserving students $5,000 each in tuition assistance. Additionally, several tuition recipients have had the opportunity to gain work experience in motorsports through internships at 23XI.

Team: Venturini Motorsports

• Venturini Motorsports has played a pivotal role in the careers of drivers throughout the years. During the 2023 season, Venturini Motorsports earned an ARCA Menards West Championship with Sean Higorani while also competing in the ARCA Menards Series with drivers Toni Breidinger, Amber Balcaen and Taylor Reimer. In addition to developing driver talent, Venturini has continued to advance engineering talent, hiring Monon Rahman, who won his first race as a crew chief with Sean Hignorani in 2023. Venturini's longstanding commitment to advancing careers and the sport began with The Ultra Blue Crew in 1987, which was an all-female pit crew that competed in ARCA races.

Track: Phoenix Raceway

• Phoenix Raceway utilized the NASCAR Championship Ignition Luncheon benefiting Phoenix Children's Hospital to generate excitement for the 2023 NASCAR Playoffs and NASCAR Championship Weekend while also promoting NASCAR's commitment to DEI. The luncheon, which featured a cross-section of NASCAR's past, present and future that showcased the changing face of the sport to an influential audience, was built on a successful event earlier in the year highlighting STEM's important role in NASCAR and introducing underrepresented cultures to our sport. The track has also been a sponsor of Phoenix Pride for the past two years.

Young Racer: Katie Hettinger

• In 2023, Hettinger was crowned CARS Tour Rookie of the Year, finishing the season second in driver championship points, and receiving the fan vote as the "Most Popular Pro Late Model" driver. She also received the Wendell Scott Trailblazer Award in 2022.

For more information, visit nascar.com.

Yokohama Tire Corporation (YTC), the Japanese tire manufacturer with American operations based in Santa Ana, California, has promoted EVP of Sales and Support Stan Chandgie to COO, effective April 1.

In his new role, Chandgie will retain oversight of consumer and commercial sales and add marketing, tire business planning, and supply chain and logistics to his responsibilities. He will continue to report to Jeff Barna, YTC's President and CEO.

Before joining Yokohama in 2019, Chandgie held executive sales, marketing, and service roles at Michelin and Exide Technologies.

For more information, visit yokohamatire.com.

Ron Iskenderian, the son of industry icon Ed Iskendarian and the former vice president of Isky Racing Cams, has passed away at the age of 75. He was the eldest son of Ed and Alice Iskendarian. 

"Ron passed away on January 28 from complications of a stroke. He will be sorely missed by all of us," said a company release. 

Isky Racing Cams based in Gardena, California, offers camshafts and accessories like valve spring kits and retainers, push rods, hydraulic lifters, bead valve locks and more. 

For more information, visit iskycams.com.

Race Winning Brands (RWB), a high-performance parts manufacturer based in Mentor, Ohio, has sold its remaining United States inventory of K1 Technologies products to Titan Motorsports, an Orlando, Florida-based provider of performance components.

K1 Technologies is a brand of performance connecting rods and crankshafts for domestic, European, and sport compact markets. Following the sale, Titan Motorsports will provide service to American and Canadian K1 Technologies customers and all K1 inventory will move to Titan's warehouse and sales operations. RWB Europe will continue servicing its customers under existing operational procedures, the company said.

"We are thrilled to bring K1 Technologies inventory into the Titan Motorsports family," said Baadal Deliwala, vice president of Titan Motorsports. "K1 Technologies has established a strong reputation in the industry, and we are excited to promote the product."

For more information, visit titanmotorsports.com or k1technologies.com.

Lane Automotive, the Michigan-based parent company of Motor State Distributing, Allstar Performance, and other racing and performance brands, has installed a new warehouse robotics system to automate distribution operations.

The Exotec Skypod system is an automated goods-to-person solution that utilizes robots able to reach a height of 39 ft. to enable high-density inventory storage, helping to automate manual tasks and reduce order fulfillment time, the company said.

Installed at Lane Automotive's Southwest Michigan distribution center, the system has been fully operational since December 19, 2023, and features 62 deployed robots, 5 picking stations, and 59,600 storage bins.

For more information, visit laneautomotive.com.

PRI's Washington, D.C., office is excited to invite you to the SEMA and PRI Washington Rally, taking place in Washington, D.C., May 8-9, 2024. The Washington Rally provides an opportunity for SEMA and PRI member companies to come together and advocate on behalf of the specialty-automotive aftermarket and motorsports-parts industries with members of Congress. Click here to register for the event. 

By attending the Washington Rally, you will have the opportunity to meet with your members of Congress and their staff, discuss critical issues and advocate for policies that will benefit our industry. Your participation will help ensure that our industry's concerns are heard and that we can continue to innovate and grow. 

Whether it's protecting the right to repair and modify vehicles with advanced technology, combating vehicle technology mandates that limit consumer choice or protecting motorized access to federal government lands, there are many issues facing SEMA and PRI members in the nation's capital. With the 2024 presidential election heating up and the balance of power in both the House and Senate up for grabs, it's more important than ever for SEMA and PRI members to come to Washington, D.C., to advocate for the industry! 

SEMA and PRI have a limited number of rooms available at the Royal Sonesta Washington, D.C., Capitol Hill for $409 per night, plus tax. A link to book a room will be provided upon completing the registration form. 

Below is a list of 2024 Washington Rally events (all times ET): 

Wednesday, May 8, 2024  

• 5:30 p.m. - 7:00 p.m. -- SEMA-PRI PAC Reception* -- Royal Sonesta Capitol Hill, Sapphire Room and Terrace -- Penthouse level 

*A PAC contribution is required to attend in the suggested amount of $250 per individual. If you have already contributed to the SEMA and PRI PAC in 2024, this event may be complimentary as a part of your PAC Membership Benefits. Please contact PAC Manager Alicia Steger at alicias@sema.org if you have any questions.
 

• 7:00 p.m. - 9:00 p.m. -- Washington Rally Congressional Dinner -- Royal Sonesta Capitol Hill, Crown Ballroom -- Penthouse level 

Thursday, May 9, 2024 

• 7:00 a.m. - 8:30 a.m. -- Breakfast and Welcome Briefing -- Royal Sonesta Capitol Hill, Crown Ballroom -- Penthouse level 
• 9:00 a.m. - 12 p.m. -- Meetings with Congressional Representatives -- House & Senate Office Buildings 
• 9:00 a.m. - 3:00 p.m. -- Cars at the Capitol Event -- Southwest side of the U.S. Capitol on Maryland Avenue (across from the Botanical Garden) 
• 12:00 p.m. - 1:30 p.m. -- Congressional Luncheon -- Capitol Hill Club, Eisenhower Room 
• 2:00 p.m. - 5:00 p.m. -- Meetings with Congressional Representatives -- House and Senate Office Buildings 

For more information on the Washington Rally, contact Eric Snyder at erics@sema.org.