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Trump's Gambling Bill Could Trigger $1.1 Billion Tax Hike

7/6/2025

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Summary

Story summary

Professional gamblers are on edge as President Trump's "Big, Beautiful Bill" threatens to cap gambling loss deductions at 90%. This shift could result in a staggering $1.1 billion tax hike by 2034. Critics fear it may drive gamblers underground, jeopardizing the regulated industry and the economic lifeblood of iconic gambling cities like Las Vegas.

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Story summary

Professional gamblers are on edge as President Trump's "Big, Beautiful Bill" threatens to cap gambling loss deductions at 90%. This shift could result in a staggering $1.1 billion tax hike by 2034. Critics fear it may drive gamblers underground, jeopardizing the regulated industry and the economic lifeblood of iconic gambling cities like Las Vegas.