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Gambling Tax

All articles tagged with #gambling tax

politics5 months ago•5 min saved

Gambling Tax Hike Faces Republican Pushback Amid Poker Community Concerns

Some Republicans are now calling to reverse a gambling tax hike included in Trump's megabill, which reduces the deduction on wagering losses from 100% to 90% starting in 2026, citing concerns about its impact on the industry and fairness. The provision was added quickly and without much awareness among lawmakers, and efforts to undo it are facing resistance from Senate leaders and the White House.

via NBC News|

#gambling-tax #legislation #politics

politics6 months ago•5 min saved

Controversial Trump Bill Sparks Fears for U.S. Sports Betting Industry

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.

via CNN|

#gambling-tax #legislative-process #politics