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Tracks, Groups Push for Model Drug Rules

More than 50 racetracks and industry organizations have co-signed a letter to regulators urging them to adopt the uniform national model rules on medication and drug-testing reform.

Bill Reduces Capital Gains Period On Horses

Congressman Andy Barr (R-KY) introduced the Equine Tax Parity Act (H.R. 998) March 6, legislation that would reduce the capital gains holding period for horses from 24 months to 12 months.

No Tax Code Changes on Gambling Deductions

Following targeted lobbying from the NTRA, "Fiscal Cliff" legislation passed Jan. 1 by both the U.S. Senate and House of Representatives contained language that exempts wagering losses from limitaton on itemized deductions.

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