President Trump
A group of 24 U.S. states sued American President Donald Trump on Thursday over his imposition of new tariffs on imports around the world, according to the New York Times, which said that his administration would now be forced back into court to try to maintain those tariffs. The lawsuit is led by the states of Oregon, New York, California, and Arizona, which argue that Trump did not have the power to impose those tariffs, the Times reports. Trump imposed the new tariffs after the U.S. Supreme Court overruled Trump's...
The version of President Donald Trump's "Big Beautiful Bill" passed by the Senate earlier this week contains a tax provision that could prove prohibitive to gamblers, with ramifications for horse racing's bottom line. In the Senate's version of the bill, deductions for gambling winnings will be limited to 90% of annual losses. Currently, gamblers can deduct 100% of wagering losses (below a net profit) for any given year. As NBC Sports describes it, "$100,000 in winnings against $100,000 in losses will be treated for tax purposes as if the losses...
It felt more doomsday than liberation day as the world - especially those people who do business with America - awaited President Trump's address from the White House on trade tariffs. In the bloodstock sector, where horses are regularly traded between Europe and the United States, the one thing we can be certain of for now is that the issue will add some uncertainty to the market. A first test of the degree to which it will affect the sales will come when the breeze-ups get underway later this month....
The Kentucky Equine Education Project (KEEP) released the following response to President Trump's announcement that no new H-2B visas would be issued in 2020: "On Monday, June 22, 2020, President Trump issued an order that extends the federal government's suspension of new H-2B visas, as well as other work visas, through the end of the year. This order, as with the previous order issued in March, claims to open up new jobs to Americans during a time of record unemployment. However, when it comes to the Kentucky horse industry, this...