Featured Legislator: U.S. Representative Andy Barr (R-KY)

District: Kentucky’s 6th in Central and Eastern Kentucky – home to the city of Lexington, Keeneland, Fasig-Tipton and hundreds of Thoroughbred farms and industry-related businesses.

Experience: Rep. Barr is serving his first term in the U.S. House of Representatives. He was elected to office in November 2012.

Key Committee: Rep. Barr serves on the House Financial Services Committee. This committee oversees online gaming which is critical to the future of the horse racing industry.

Rep. Barr also is co-chair of the Congressional Horse Caucus (CHC). The CHC helps raise awareness of the equine industry and the impact it has on the nation’s economy to Members of Congress and their staffs.

Impact on horse racing industry: Rep. Barr introduced the Race Horse Recovery Act (H.R. 2212), which would renew three-year depreciation for all racehorses, a provision that expired at the end of 2013. Rep. Barr also introduced the Equine Tax Parity Act (H.R. 998) to amend the 1986 Internal Revenue Code to reduce the capital gains holding period for horses from 24 months to 12 months.

2015-12-04T14:21:23+00:00 May 8th, 2014|Categories: NTRA Capitol Hill Reports|
X