Full Breakdown
Nevada Lawmakers Push to Reverse Gambling Tax Deduction Change
12/30/2025, 2:31:43 AM
Overview of the Tax Change Impacting Gamblers
The recent tax law change enacted through the One Big Beautiful Bill Act, signed by President Donald Trump in July, is set to significantly affect gamblers in Nevada. Starting January 1, 2026, players will only be able to deduct 90% of their gambling losses from their winnings, down from the previous 100%. This change means that a player winning $100,000 and losing $100,000 will face taxes on $10,000 of income, which many in the gambling community view as detrimental to their livelihoods.
Legislative Efforts to Restore Full Deduction
Nevada lawmakers are actively working to reverse this tax change. Representative Dina Titus, D-Nevada, has introduced the FAIR BET bill aimed at restoring the full deduction. Senators Catherine Cortez Masto and Jacky Rosen, both D-Nevada, have also introduced the bipartisan FULL HOUSE bill with similar goals. Titus noted the overwhelming public response to the issue, stating, “Turns out, we got a million responses to our tweet... it’s not just high-rolling poker pros who will be hurt by the tax change — it’s also regular guys who bet on weekend football.”
Mark Amodei, Nevada's sole Republican representative, is collaborating with Titus and has expressed optimism about restoring the deduction, citing discussions with House Ways and Means Committee Chair Jason Smith, R-Missouri. Smith has indicated a bipartisan path forward but has not provided a specific timeline for action.
Industry Concerns and Economic Implications
The gaming industry is bracing for the impact of the tax change, with concerns that it will lead to reduced participation in major gambling events and a decline in tourism. Derek Stevens, CEO of Circa Casino Resorts, emphasized the urgency of addressing the issue, stating, “This could be fixed next year. The reality is that it needs to be done now.” He warned that the tax implications could deter gamblers from participating in high-stakes events like the Super Bowl and March Madness, potentially leading to job losses in the industry.
Criticism of Legislative Inaction
Critics, including Titus, have pointed out that Republicans may be hesitant to amend the tax law due to its association with Trump's signature policy. Titus remarked, “They are reluctant to open up the Big Bad Beautiful Bill because they don’t want to challenge the president.” Amodei speculated that the tax provision may have been inserted by a Senate staff member without broader support.
Future Prospects and Statements from Key Figures
While there is hope among lawmakers and industry leaders for a reversal of the tax change, the timeline remains uncertain. American Gaming Association CEO Bill Miller expressed confidence that the deduction will be restored, stating, “I believe that we’re going to get it done.” However, the potential for delays remains, with the change set to take effect in early 2026.
Verbatim Quotes
- “Next year I am kind of forced into retirement,” — Erik Seidel, Poker Hall of Famer
- “This is not good for the country, and it’s not good for the industry,” — Derek Stevens, CEO of Circa Casino Resorts
- “They are reluctant to open up the Big Bad Beautiful Bill because they don’t want to challenge the president, and also, they know if they open it up, other people are gonna have other fixes, too,” — Dina Titus, U.S. Representative
- “I believe there is a bipartisan path forward to restoring full deductibility of gambling losses.” — Jason Smith, Chair of House Ways and Means Committee
As the situation develops, Nevada lawmakers and the gaming industry continue to advocate for a swift resolution to mitigate the adverse effects of the new tax law on gamblers and the state's economy.
