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Senate Blocks Tax Relief for Gamblers, Sparks Outcry

7/12/2025

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Summary

Story summary

Senate Republicans have thwarted Sen. Catherine Cortez Masto's efforts to overturn a tax rule that restricts gamblers' deductions to just 90% of their losses. This controversial provision, rooted in Trump's tax bill, risks burdening gamblers with taxes on "phantom income." Critics fear it could spell disaster for Nevada's economy and its professional gambling scene, igniting urgent calls for legislative action.

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Story summary

Senate Republicans have thwarted Sen. Catherine Cortez Masto's efforts to overturn a tax rule that restricts gamblers' deductions to just 90% of their losses. This controversial provision, rooted in Trump's tax bill, risks burdening gamblers with taxes on "phantom income." Critics fear it could spell disaster for Nevada's economy and its professional gambling scene, igniting urgent calls for legislative action.