BY STEVE KOCH
The National Thoroughbred Racing Association secured permanent 100% bonus depreciation through the One Big Beautiful Bill Act, signed into law in early July, continuing the organization’s track record of delivering meaningful legislative wins in Washington.
“Federal tax legislation that impacts Thoroughbred investment has been a longstanding focus of the NTRA,” said Tom Rooney, NTRA President and CEO. “The importance of the return of 100% bonus depreciation for the horse racing industry cannot be overstated. It’s an important tax incentive that benefits buyers and sellers in all markets, including Florida.”
The impact was immediately evident at Keeneland, where the September sale achieved record-breaking results with average prices rising 17% and median prices jumping 14% over 2024. Industry participants roundly cited favorable tax legislation as a key factor in the unprecedented demand.
Terry Finley, President and CEO of West Point Thoroughbreds, credited NTRA’s Washington effectiveness with delivering tangible results. “The return of 100% bonus depreciation was perfect timing for the start of yearling sales season and is the latest example of how the NTRA’s advocacy at the federal level has a direct and material impact on our business,” Finley said. “As a result, West Point Thoroughbreds has purchased dozens of yearlings alone and in partnership at the Keeneland September Yearling Sale. We’re all in!”
Next week’s Ocala Breeders’ Sales Company October auction could experience similar heightened activity as buyers and sellers capitalize on the permanent tax incentive secured by NTRA.
“The NTRA’s successful advocacy for permanent bonus depreciation demonstrates the value of having a strong voice in Washington fighting for our industry’s interests,” said Lonny Powell, CEO of the Florida Thoroughbred Breeders’ and Owners’ Association.
The victory builds on NTRA’s previous federal successes, including 2017’s Treasury rule changes that increased annual wagering by an estimated $1 billion and 2021’s Bank of America breakthrough for ADW debit card transactions.
Return to the October 2 issue of Wire to Wire
