Nevada lawmakers push to halt upcoming 2027 tax hike on gambling losses
A U.S. House committee advanced a bill to maintain the full federal tax deduction for gambling losses, blocking a planned reduction set for 2027.Summary
The House Ways and Means Committee has approved the Digital Asset Tax Certainty Act, which includes a provision to preserve the 100% federal tax deduction for gambling losses. This legislative move, championed by Nevada Representative Dina Titus, aims to block a pending tax change scheduled for January 1, 2027, that would reduce the deduction cap to 90%. Titus argues the planned reduction would unfairly tax bettors on "phantom money" they never won, even if they break even for the year. The effort has broad bipartisan support from 25 co-sponsors and major industry stakeholders like MGM Resorts and DraftKings. With the committee approval secured after 14 months of work, Titus is now urging House leadership to schedule a full floor vote before the 2027 deadline.
(Source：Https://www.fox5vegas.com)