EDITORIAL: Pressing to repeal gambling tax reform
An editorial argues for the repeal of a provision in President Trump’s tax bill that limits gambling loss deductions.Summary
The Las Vegas Review-Journal’s editorial argues against a recent change in President Trump’s tax bill that impacts how gamblers can offset winnings with losses. Previously, gamblers could deduct losses fully when itemizing, but the new bill only allows offsetting 90% of losses. This change, projected to generate $1.1 billion for the federal government, disproportionately affects high rollers and professionals, potentially driving them to unregulated markets. Representatives Dina Titus, Catherine Cortez Masto, Jacky Rosen, and Senator Ted Cruz have proposed legislation to revert to the previous rules, but these efforts have stalled. Casino executives express concern that the change is already impacting tourism and will harm both casual and professional players. The editorial contends that the reform is unfair, sets a dangerous precedent, and raises constitutional concerns, advocating for continued pressure on Congress to overturn the provision.
(Source：Las-vegas Review Journal)