This time, proponents of restoring the deduction to 100% tried via an amendment, but the Rules Committee adjourned without ...

New 2026 gambling tax limits loss deductions to 90%, raising taxes for bettors. Learn how Congress is responding and what ...

If you’ve been waiting for the One Big Beautiful Bill tax changes for gambling losses to be reverted, you’re not alone. As Congress gets back to work, a big issue is on the table for gamblers and the ...

President Donald Trump is signaling that he wants to unwind a looming change to how gambling winnings are taxed, setting up a clash between a fresh revenue-raising rule and a White House eager to ...

Gambling winnings are expected to be taxed more next year — at least federally. Thanks to the 2025 GOP/Trump tax and spending bill, a portion of winnings from activities like lotteries, slot machines, ...