Senate Republicans block attempt to roll back massive tax hike on professional gamblers
July 10, 2025
Senate Republicans are rejecting an attempt to reverse a provision from their new tax law that changes the taxation of gambling winnings. Democratic Sen. Catherine Cortez Masto of Nevada on Thursday sought unanimous passage of a bill that would roll back the gambling provision. But Republican Sen. Todd Young of Indiana objected, stalling the proposal for now. Under the new tax law, starting in 2026 individuals can only deduct 90% of their gambling losses up to the amount of their winnings. That’s a change from the previous rule, which allowed gamblers to deduct 100% of their losses, up to the amount they won.
