Congressman Andy Barr (R-Kentucky) has introduced a measure that would make permanent the three-year depreciation schedule for all racehorses that is scheduled to expire with the 2008 Farm Bill at the end of the year.

In a statement, Barr said his introduction of HR 2212, the Race Horse Cost Recovery Act, is designed to help protect Kentucky’s equine industry that he said contributes more than $4 billion annually to the economy.

"Providing the certainty of a three-year depreciation schedule is critical to the health of Kentucky’s signature horse racing industry, as well as job growth in other horse-related industries," Barr said. "That’s why I am proud to introduce HR 2212, the Race Horse Cost Recovery Act, a bill to make permanent the three-year depreciation schedule, which will encourage more job creation and investment in Kentucky’s signature equine industry, and end the uncertainty of the current, temporary depreciation schedule for racehorses.

"Kentucky’s horse industry contributes $4 billion annually to our economy and provides over 80,000 direct and indirect jobs to Americans. We must protect this investment and these jobs for the sake of Kentucky’s hard-working families