NTRA Reacts To The One Big Beautiful Bill Act And Its Implications For Racing

[Wandering Eyes]

The One Big Beautiful Act (OBBBA), passed by Congress and expected to be signed into law by President Trump, makes permanent 100% bonus depreciation, an important incentive for Thoroughbred breeders and owners, according to a Thursday press release by the National Thoroughbred Racing Association (NTRA).

The one-hundred percent bonus depreciation was part of the Tax Cuts and Jobs Act of 2017, signed into law during the first Trump administration. Originally, this provision included a phase-out schedule that made bonus depreciation 40% this year, 20% in 2026, and completely phased out by 2027. Now, it will stay at 100%, retroactive to Jan. 20, 2025.

In the release, the NTRA also thanked Representative Andy Barr (R-KY), who was instrumental in leading the charge to cut problematic language changing the nature of the excess business loss carryover, which was removed in the final version of the bill. In addition to Barr, NTRA President and CEO Tom Rooney credited Senate Majority Leader John Thune (R-SD) and former Senate Majority Leader Mitch McConnell (R-KY) with ensuring the horse industry was represented.

The NTRA went on to say that while there are many victories for the horse racing industry in the OBBBA, there is still work to be done to offset some losses by horseplayers in their ability to deduct tax losses. The organization is committed to working on that fix moving forward.

Click here to access the bill.

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