While President Trump’s “One Big Beautiful Bill” saw the industry successfully rally support for a number of its initiatives, it saw a setback in the area of gambling winnings but the National Thoroughbred Racing Association hopes that can be changed in the months ahead.
Jen Shah, a Lexington-based certified public accountant with Dean Dorton, noted in a July 6 column that racing secured an important victory as the bill makes permanent 100% bonus depreciation, which the NTRA and other industry groups had supported. In making 100% bonus depreciation permanent, it benefits and allows for planning by farms and owners, as qualifying property includes equipment, fencing, land improvements, barns, and most horse purchases (with some exceptions).