U.S. Congressman Andy Barr (R-KY) has introduced the Winnings and Gains Expense Restoration (WAGER) Act of 2025. This proposed legislation aims to allow wagerers to fully deduct legitimate wagering losses from their winnings, a move intended to support the thoroughbred horse racing industry.
“Restoring full deductibility of wagering losses will help the thoroughbred horse racing industry maximize economic value for equine businesses,” said Congressman Barr, who is also Chairman of the Congressional Horse Caucus. He expressed his commitment to advancing the WAGER Act in Congress and acknowledged the efforts of equine and thoroughbred horse racing advocates supporting this bill.
Damon Thayer, former State Senate Majority Leader, praised Rep. Barr’s continued support for the horse industry through sponsoring the WAGER Act. “Its passage is critical to the very foundation of the horse racing industry: fans and customers,” he stated.
Shannon Arvin, CEO of Keeneland, emphasized that allowing horseplayers to fully deduct losses is vital for maintaining a healthy wagering ecosystem. “Keeneland thanks Congressman Barr for his proactive leadership and advocacy for the horse racing community and its economic future,” Arvin remarked.
Drew Fleming, President & CEO of Breeders’ Cup Limited, also expressed gratitude towards Congressman Barr’s leadership on policy issues affecting horse racing. He noted that “Breeders’ Cup stands behind the horseplayers that form a vital cornerstone of our sport.”
Chauncey Morris, Executive Director of the Kentucky Thoroughbred Association, highlighted Kentucky’s growth in live handle since 2020 as evidence of the state’s leading position in American racing circuits. He credited Congressman Barr with supporting various stakeholders within Kentucky’s horse racing sector.
Tom Rooney, NTRA President and CEO, commended Congressman Barr for introducing this bill which seeks to restore tax deductions related to gaming losses. Rooney affirmed that “Congressman Barr has always been an advocate for the Thoroughbred racing industry.”
