Controversial Trump Bill Sparks Fears for U.S. Sports Betting Industry
TL;DR Summary
A provision in the recent US tax and spending bill, altered during the legislative process to comply with reconciliation rules, reduces the gambling loss deduction from 100% to 90%, causing concern among professional gamblers and industry officials who argue it unfairly taxes 'phantom' winnings and could harm the gambling industry. Efforts are underway to reverse this change.
Topics:nation#gambling-tax#legislative-process#politics#professional-gamblers#tax-deduction-change#trump-legislation
- Why an obscure provision in Trump’s big agenda bill has gamblers crying foul CNN
- Lose bets, pay taxes? New bill has some gamblers apoplectic. The Washington Post
- Republican Backs Push to Repeal Part of Trump Bill Days After Voting For It Newsweek
- Bettors are worried Trump's 'big, beautiful bill' could cause professional gambling in the U.S. to fold NBC News
- The New Law That Could Kill Legal Sports Betting in America Huddle Up | Joe Pompliano
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