teamsters local 707 kevin mccaffrey no talk

Hi Mr. Leeds,

Thanks for reaching out regarding the spending/tax package passed this week in the House.

Looks like the article you read (I found this one, please let me know if you were reading something different) was talking about the inclusion of a three-year depreciation period for racehorses. The measure included in the spending packages allows taxpayers to depreciate the value of racehorses 24 months of age and younger over the course of three years, instead of seven. This tax benefit expired at the beginning of 2018 after it was not included in the Republican tax reform bill that passed in 2017.

This article pretty well sums things up: https://www.foxbusiness.com/money/tax-break-race-horse-owners

Thanks again for getting in touch. Please let me know if I can get you any additional info.

Best,

Mike

Mike Demakos

Legislative Assistant

Rep. Kathleen Rice (NY-04)

2435 Rayburn

202-225-5516