A bill designed to promote investment in the horse industry by removing provisions of federal law that favor other investments was introduced by U.S. Senator Mitch McConnell July 28.
The U.S. Senate passed an international tax bill that includes two provisions that are favorable for the horse industry. The first is the clarification that the 30% alien withholding provision does not apply to nonresident aliens wagering in foreign countries; the second is a reduction in the holding period for horses to qualify for capitol gains treatment from 24 months to 12 months.
- By Ray Paulick
By Ray Paulick -- Good things happened to the horse industry in Washington the same year it spent more on lobbying.
Financial assistance for owners and breeders impacted by mare reproductive loss syndrome was offered for consideration Thursday morning as part of broad farm-related legislation to be considered by the House Agriculture Committee in July.
Kentucky's entire delegation of U.S. Senators and Congressmen has written a letter to Secretary of Agriculture Ann M. Veneman alerting her of the foal/fetal loss syndrome in Kentucky and asking for assistance from the U.S. Department of Agriculture.
Most Popular Stories
- Exaggerator to Rest at WinStar
- NYRA Sanctioned for Aqueduct Water Pollution
- Postponed Clear Favorite in Arc de Triomphe
- Tepin Works Half-Mile at Saratoga
- Charlton’s Abbotts Retiring on Own Terms
- California Chrome Draws Rail in Awesome Again
- Champion Hidden Lake Dies at 23
- McCarron: Clarification
- Hope for Distribution of PA Breeder Awards
- Jockey Gallardo to Try Southern California