{"database": "press", "table": "releases", "rows": [["https://barr.house.gov/press-releases?ID=0B029E59-7FF6-44ED-AD9F-072D8BC40FAE", "Barr Leads the Charge on Legislation to Spur Investment in Equine Industry", "2021-11-03", "2021", "2021-11", "Republican", "House", "KY", "Andy Barr", "B001282", "barr.house.gov", "barr", "https://barr.house.gov/press-releases", "scraper", "Washington, D.C.\u2014 U.S. Congressman Andy Barr (KY-06) reintroduced legislation to incentivize investment in Kentucky\u2019s 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.\n\nAdditionally, 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\u2019s 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.\n\n\u201cPermanently delivering tax incentives for owners and breeders will strengthen investment in our signature equine industry,\u201d said Congressman Barr, who serves as Co-Chair of the Congressional Horse Caucus. \u201cI 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.\u201d\n\n\u201cThe three-year depreciation of racehorses (similar to other investment assets) is critically important to encourage robust investment in Thoroughbred horses and to maintain the vibrant economy and trade we have seen throughout this Thoroughbred sales cycle and consistently over the past 85 years at Keeneland,\u201d said Shannon Arvin, President and CEO of Keeneland. \u201cWe appreciate Congressman Barr\u2019s consistent support of this legislation and the entire Thoroughbred industry.\u201d\n\n\u201cCongressman Barr understands the horse racing industry and appreciates the impact this bill would have on attracting and maintaining ownership in racehorses,\u201d said Alex Waldrop, President and CEO of NTRA. \u201cWe thank him for introducing the Equine Fairness Act and for helping support an industry that is a job-creating economic engine for his home state of Kentucky and for other states. Both provisions offer a level of tax fairness and flexibility that racehorse owners seek when determining their level of investment. This bill simply is good for business.\u201d\n\n\u201cThe Jockey Club wholeheartedly supports the Equine Tax Fairness Act, introduced by Congressman Barr,\u201d said James Gagliano, President of the Jockey Club. \u201cThis bill will put horse ownership on par with other investment assets. The three-year depreciation schedule accurately reflects the typical career of a racehorse since nearly three-quarters of foals that race have a career of four years or less. This change has been enacted by Congress on a temporary, year-to-year basis since 2008, and needs to be permanent law.\u201d You can read the Jockey Club\u2019s full statement on the bill here.\n\n\u201cThe Kentucky Thoroughbred Association endorses the Equine Tax Fairness Act, and is very grateful to Congressman Andy Barr for introducing it. Kentucky breeders produce foals that become racehorses in 38 states, and the 3-year depreciation encourages racehorse ownership which we know supports 241,000 direct racing sector jobs nationwide as well as the 60,000 direct, indirect and induced jobs in the Commonwealth of Kentucky,\u201d said Chauncey Morris, Executive Director of the Kentucky Thoroughbred Association.\n\n\u201cThe Thoroughbred Owners and Breeders Association fully endorses Congressman Barr\u2019s bill to reward investment in our great sport,\u201d said Dan Metzger, President of the Thoroughbred Owners and Breeders Association. \u201cWe thank him for his consistent support for owners and breeders and the Thoroughbred horse racing industry as a whole.\u201d\n\n\u201cThe American Horse Council is pleased to endorse Rep Barr's Equine Tax Bill, which will help ensure growth and investment in the $122 billion equine industry,\u201d said Julie Broadway, President American Horse Council.\n\n###", 1, "2026-03-30T01:40:41Z", "2026-04-06T20:30:49Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://barr.house.gov/press-releases?ID=0B029E59-7FF6-44ED-AD9F-072D8BC40FAE"], "units": {}, "query_ms": 0.9812461212277412, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}