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Senate Republicans block attempt to roll back massive tax hike on professional gamblers
- Senate Republicans blocked an attempt to change a tax law affecting professional gamblers that could harm their industry significantly.
- Starting in 2026, individuals will only be able to deduct 90% of their gambling losses up to their winnings under the new tax law.
- Phil Galfond, a professional poker player, warned that the amendment would end professional gambling in the U.S. and affect casual gamblers.
- Senator Ron Wyden stated that many Republican senators were unaware of this policy regarding gambling taxes.
13 Articles
13 Articles
Senate blocks bill to restore gambling tax break reduced in Trump bill
Senate Republicans on Thursday objected to quick passage of legislation that would restore full deductibility of wagering losses after Nevada Democrat Catherine Cortez Masto made the unanimous consent request.
Senate Republicans Block Attempt to Roll Back Massive Tax Hike on Professional Gamblers
Senate Republicans on Thursday blocked an attempt to reverse a little-noticed provision from their tax and spending cuts law that professional gamblers warn could be the end of their industry.
Associated Press News
Senate Republicans block attempt to roll back massive tax hike on professional gamblers
Senate Republicans are rejecting an attempt to reverse a provision from their new tax law that changes the taxation of gambling winnings. Democratic Sen.
A legal time bomb is about to explode in Peru. The main online sports betting companies have launched a judicial offensive against the Selective Consumption Tax (ISC), presenting a series of amparo actions before the Judiciary with the aim of nullifying its application. They consider the norm to be unfair and discriminatory, and warn that, if the Executive does not act before the deadline that expires this Wednesday, the tension could escalate t…
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