Barr Leads the Charge on Legislation to Spur Investment in Equine Industry

Press Release

U.S. Congressman Andy Barr (KY-06) reintroduced legislation to incentivize investment in Kentucky's signature equine industry. The Equine Tax Fairness Act would make the three-year depreciation schedule permanent for racehorses, regardless of their age when put into service. Currently, Congress must reauthorize this provision in the tax law on an annual basis.

Additionally, this legislation would reduce the holding period for equine assets to be considered long term capital gains, putting them on a level playing field with other similar assets. Congressman Barr's bill is endorsed by the National Thoroughbred Racing Association (NTRA), the Kentucky Thoroughbred Association, the Jockey Club, the Thoroughbred Owners and Breeders Association, Keeneland, and the American Horse Council.

"Permanently delivering tax incentives for owners and breeders will strengthen investment in our signature equine industry," said Congressman Barr, who serves as Co-Chair of the Congressional Horse Caucus. "I want to continue the momentum started with the enactment of the Horseracing Integrity and Safety Act to push another key industry initiative across the finish line that will help solidify the sport for decades to come."

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