Congress passes spending plan that includes HISA, depreciation extension

The United States House of Representatives and Senate the evening of Dec. 21 passed a $1.4 trillion spending package includes the Horseracing Integrity and Safety Act of 2020 and an extension of a racehorse tax depreciation schedule.

Early in the morning of Dec. 22, federal lawmakers also passed a $900 billion COVID-19 relief bill that includes provisions that could benefit the horse racing and breeding industry. The programs are similar to those that were established in the spring of 2020 to offer financial aid to individuals and businesses impacted by the virus.