Why It Matters
Tulip Pegasus Management is pushing for reauthorization of the Great American Outdoors Act as the federal government faces a critical funding deadline. The act’s authorization expires this year with a $41 billion maintenance backlog across federal land agencies, including trails and recreational infrastructure used by equestrians. Congress is considering bipartisan reauthorization proposals, though budget pressures create uncertainty about whether legislation will advance before the authorization lapses entirely.
By the Numbers
Tulip Pegasus Management LLC is a first-time federal lobbying entrant, having initiated activities in the second quarter of 2025. The organization has invested $270,000 in lobbying throughout 2025, with $110,000 spent in the last quarter alone. The company has exclusively retained Squire Patton Boggs, maintaining a single-issue lobbying strategy focused entirely on Great American Outdoors Act reauthorization.
The quarterly spending remained constant at $110,000 in both third and fourth quarters indicating stable resource allocation with no escalation or reduction in lobbying intensity as the year progressed.
The Agenda
Tulip Pegasus Management LLC is lobbying exclusively on the reauthorization of the Great American Outdoors Act, investing $270,000 in federal lobbying efforts since mid-2025. The organization pays Squire Patton Boggs $110,000 quarterly.
The Great American Outdoors Act funds maintenance and development of public lands and trails directly relevant to the equestrian community, which relies on these public spaces for recreational riding. The legislation addresses a significant $41 billion maintenance backlog across federal land agencies.
Broader Context
Congress is actively considering reauthorization amid competing budget pressures. House Natural Resources Chair Bruce Westerman has signaled "considerable interest" in GOP support for "Great American Outdoors Act 250," though the Trump administration proposed nearly $4 billion in cuts to national parks and public lands agencies.
Simultaneously, the equine industry faces significant legislative activity. The bipartisan Racehorse Health and Safety Act would establish an interstate compact to replace the federal Horseracing Integrity and Safety Authority, while new regulations expanding the Horse Protection Act took effect February 1, 2025.
Between The Lines
The deadline is creating urgency. Senators Angus King (I-ME) and Steve Daines (R-MT) introduced the bipartisan America the Beautiful Act, which would reauthorize the Legacy Restoration Fund through 2033 with increased funding.
However, the broader equine industry faces regulatory uncertainty. The bipartisan Racehorse Health and Safety Act would shift regulatory authority to a state-based framework, while equine investors have seen recent wins with permanent 100% bonus depreciation for equine investments and permanent three-year depreciation for racehorses.
Competitive Landscape
The lobbying landscape surrounding public lands remains relatively fragmented, with limited direct competition on Tulip Pegasus Management’s focus area. Recreation and conservation groups, including the Outdoor Alliance, are building advocacy campaigns emphasizing trail maintenance funding.
The equine industry appears divided on regulatory issues. The National Horsemen’s Benevolent & Protective Association supports proposed changes to racing regulation through the Racehorse Health and Safety Act, while animal welfare advocates oppose it.
The Bottom Line
Tulip Pegasus Management LLC has invested $270,000 in federal lobbying during 2025, focusing exclusively on reauthorizing the Great American Outdoors Act through Squire Patton Boggs. Congress is considering the reauthorization amid bipartisan momentum, though budget constraints create uncertainty. The company’s focused strategy on public lands funding appears well-positioned within a favorable legislative environment.
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