Back to today’s briefing

Story perspectives

Trump Proposes Elimination of Federal Gambling Taxes

12/10/2025

22 5 Full Breakdown

Summary

Story summary

U.S. President Donald Trump announced he might eliminate federal taxes on gambling winnings.
During a recent Air Force One briefing, he cited exemptions on tips, Social Security, and overtime.
The One Big Beautiful Bill Act (OBBBA) would reduce taxes for tips and overtime.
Gambling winnings over $600 are currently subject to federal withholding rates up to 31% without a Social Security number.

1 of 1

Story summary

U.S. President Donald Trump announced he might eliminate federal taxes on gambling winnings.
During a recent Air Force One briefing, he cited exemptions on tips, Social Security, and overtime.
The One Big Beautiful Bill Act (OBBBA) would reduce taxes for tips and overtime.
Gambling winnings over $600 are currently subject to federal withholding rates up to 31% without a Social Security number.