How Trump’s ‘Big, Beautiful Bill’ Could Impact Gamblers?

A lawmaker from Nevada and a Las Vegas casino owner both do not agree with one part of a U.S. budget bill that would set a cap on gambling losses that people can write off. U.S. Representative Dina Titus from Nevada and Derek Stevens, who co-owns Circa, The D, and Golden Gate casinos, see the same problem with an amendment in what President Trump calls the “big, beautiful bill.” This amendment would stop high-limit and professional gamblers from getting federal tax breaks because of recorded losses.

Titus wrote on X, which used to be called Twitter, that a part of the Republican budget bill would hurt poker players and other gamblers by cutting the amount they could deduct from their losses. She said she is pushing a law that makes gambling losses dealt with in a fair way when it comes to taxes. Soon after, Stevens re-shared her message, agreeing with her, but he did not speak to reporters for more comment.

Titus Opposes Anti-Gambling Budget Proposal, Citing Harm to Las Vegas Economy and Jobs

Later that day, Titus posted again and said that the anti-gambling part of the budget would damage people who live or visit her area, Las Vegas, a city that depends on casinos. Titus gave her view that this bill targets the gambling and tourism business in places like hers, which count on these jobs.

She explained that the rule hits people who are honest about their gambling on taxes, forcing them to move to offshore or prediction sites, which do not follow state laws, taxes, or support gambling help centres. Titus told the Review-Journal that if she is able, she will suggest an amendment to keep the present rules about deducting gambling losses.

Titus Vows to Fight Gambling Tax Changes She Calls Unfair and Harmful to Industry

If Republicans do not let her change the budget law, she will introduce a separate law to change what she calls an unfair policy. The day the House nearly passed the bill, she told a news channel that the rule would move more gamblers into black market areas. Titus said this change is harmful for casino businesses and for the gamblers, too.

Senator Mike Crapo of Idaho introduced the amendment, which would have gamblers subtract only 90% of their gambling losses from their reported winnings. For instance, a gambler who wins $100,000 in Las Vegas but loses $100,000 would continue to be taxed as if he or she earned $10,000 rather than zero under the existing statute.

Individuals who operate in casinos and analyze gaming indicate that this tax regulation would make it more difficult for those who gamble professionally, such as poker or sports bettors, to earn a living. Most casino analysts fear that such gamblers will resort to online betting sites in other nations, which will be detrimental to venues such as Las Vegas and Reno.

Now, the bill will go to President Trump for his signature, and on July 4, he is expected to approve it. The new gambling tax changes will start next year.

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