Reported 1 day ago
Senate Republicans have blocked a proposal from Democratic Senator Catherine Cortez Masto to roll back a tax change affecting professional gamblers, which critics say could harm the industry. The new tax law, effective in 2026, limits gambling loss deductions to 90% of winnings, a significant reduction from the previous 100% deduction. Many lawmakers were reportedly unaware of this provision until shortly before the bill's passage, raising concerns about the rushed legislative process and its potential consequences for gamblers.
Source: YAHOO