Bill · H.R. 1113· House(119-HR-1113)
Race Horse Cost Recovery Act of 2025
- Introduced
- 2/7/2025
- Last activity
- 2/7/2025 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Andy Barr
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
This bill, titled the ``Race Horse Cost Recovery Act of 2025'', aims to change how race horses are treated under the Internal Revenue Code of 1986. It specifically proposes to allow a 3-year recovery period for all race horses. The changes would apply to property placed in service after December 31, 2022.
Yes· 3 of 5
Would business owners be better off under this?+5
Business owners in the racing industry benefit from the more efficient recovery of costs through accelerated depreciation.
Does this cut taxes for small businesses?+4
The bill allows for faster depreciation of race horses, which provides a tax advantage to businesses involved in horse racing.
Would high-income households be better off under this?+3
The tax deduction benefits high-income individuals who frequently invest in race horses as business assets.
The opposite
Does this reduce what the federal government spends?-1
The bill reduces federal revenue by allowing faster depreciation of race horse assets.
Who it would affect, and how
Potential Positive Impacts for People
- Faster Depreciation for Race Horses: By amending Section 168(e)(3)(A)(i) of the Internal Revenue Code of 1986, the bill allows for a 3-year recovery period for all race horses, as stated in Section 2(a).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+5Good For Farmers+3Good For High Income Households+3
- Economy And Finance
- Reduces Small Business Taxes+4Improves Small Business Support+3Reduces Government Spending-1
- 2/7/2025
- Referred to the House Committee on Ways and Means.
- 1 Cosponsor added.
- Introduced in House
Morgan McGarveyDemocrat · Kentucky