- Is President Donald Trump contemplating eliminating playing taxes?
- The president joked about doing so, however such a change is unlikely
- The gaming business is just in search of to revive the playing deduction on losses to 100%
The media went hysterical after President Donald Trump steered he would think about eliminating the federal tax on playing winnings.
President Donald Trump speaks to the media gaggle aboard Air Drive One en path to Pennsylvania’s Mount Ethereal On line casino on Dec. 9, 2025. When requested about playing taxes, Trump mentioned he would think about eliminating them. (Picture: Getty)
Taking questions from the media gaggle aboard Air Drive One on Tuesday en path to the Mount Ethereal On line casino Resort within the Pennsylvania Pocono Mountains, Trump was requested if he would possibly think about eliminating the playing tax.
“Mr. President, I used to be with you in Vegas once you had ‘No Tax on Ideas’ for the hospitality business. Have you ever ever thought-about no tax on playing winnings?” requested an unidentified journalist.
No tax on playing? I don’t know. We’ve got ‘No Tax on Ideas,’ no tax on Social Safety, and we’ve no tax on additional time. No tax on playing winnings? I don’t learn about that,” Trump mentioned with a smile and amusing. “I’m going to have to consider that.”
Whereas many information websites went wild reporting that the president is mulling an elimination of taxes on playing earnings, Trump didn’t appear overly severe about his remarks. To look at Trump’s feedback on playing taxes, click here.
Playing Tax Payments Have Bipartisan Help
The gaming business isn’t in search of an elimination of federal taxes on playing earnings, however merely the restoration of deductions for losses towards winnings. Trump’s One Large Stunning Invoice Act (OBBB) is to cut back the playing loss deduction to 90% starting subsequent 12 months.
Trump didn’t point out the OBBB tax provision referring to playing throughout his occasion on the Mount Ethereal On line casino Resort.
US Rep. Dina Titus (D-NV) is in search of to revive the playing deduction by the FAIR Guess Act within the Home. Within the Senate, US Sen. Catherine Cortez Masto (D-NV) authored the FULL Home Act to treatment the playing deduction again to 100%.
Each measures have sturdy bipartisan assist. Titus’ FAIR Guess has 21 cosponsors, together with eight Republicans. FULL Home has 5 cosponsors, together with 4 Republicans, with one being Sen. Ted Cruz (R-TX).
Cortez Masto has blamed Republican management within the Senate for stalling the FULL Home Act except pork is allowed to be tacked onto the statute.
It’s a disgrace that we can not cross this commonsense FULL Home Act as a result of Republicans wish to weigh it down with unrelated measures. This can be a Republican piece of laws that’s truly inflicting folks to pay taxes on cash they misplaced. It is unnecessary,” Cortez Masto mentioned in July.
“There’s irony in @POTUS speaking about affordability at a on line casino when tourism is down due to his insurance policies, and the gaming business struggles and not using a repair to the 90% tax deduction for playing losses due to his Large, BS, Price range Invoice,” Titus posted on X this week.
The American Gaming Affiliation (AGA), which represents the pursuits of the industrial and tribal gaming industries in Washington, DC, and throughout the nation, has repeatedly referred to as on Congress to revive the playing deduction.
“[This] created an unfair precedent by taxing phantom revenue and uniquely penalizing a authorized, closely regulated exercise,” mentioned AGA President and CEO Invoice Miller. “We encourage well timed motion to revive equity and consistency within the tax code for American customers.”
Trivial Federal Income Profit
The playing deduction cap being reduce to 90% would have devastating penalties for skilled gamblers. For the federal authorities, the tax profit is inconsequential.
The Joint Committee on Taxation estimates that the playing losses rollback would solely generate $1.1 billion in further federal funding over an eight to 10-year interval. The federal authorities spends about $800 million per hour.
