Congressman Andy Barr has introduced the WAGER Act of 2025, which seeks to allow wagerers to fully deduct their legitimate wagering losses from winnings. This legislation aims to support the thoroughbred horse racing industry, particularly in Kentucky, by restoring fair taxation and enhancing the economic value of horse racing, an industry that supports over 33,000 local jobs and has seen growth since 2020. Supporters emphasize the critical role of horseplayers in sustaining the industry’s financial health.
In addition to the WAGER Act, Barr has proposed several other bills related to business, athletics, and financial regulation. He has a net worth estimated at $2.2 million and recently reported $1.1 million in fundraising for Q2 2025, with significant cash on hand. Barr’s legislative and fundraising activities reflect his ongoing engagement in economic and regulatory issues affecting his constituents and industries like horse racing.