Former VP Mike Pence No Fan of Gambling Loss Tax Deductions

Former VP Mike Pence No Fan of Gambling Loss Tax Deductions

Former Vice President Mike Pence’s conservative, nonprofit foundation is hoping to block bills to restore gambling tax loss deductions Advancing American Freedom believes many Americans will stop gambling if they cannot deduct losses Believes gambling losses should not be able to be deducted at all Former Vice President Mike Pence and his conservative, nonprofit foundation Advancing American Freedom is publicly stumping to block bills to restore…

Pence-Backed AAF Pushes to Eliminate Gambling Tax Deductions

Sports bettors could owe taxes on their winnings without any loss deductions under the proposal from Advancing American Freedom. INDIANAPOLIS – Former Vice President Mike Pence’s think tank, Advancing American Freedom (AAF), is urging Congress to eliminate tax deductions for gambling losses entirely. This move would dramatically increase tax burdens for legal sports betting residents across the country. In a new policy memo, AAF called on lawmak…