The post Mike Pence-Backed Group Urges Congress to Scrap Gambling Tax Deductions appeared first on Vegas Slots Online News.
A think tank headed by ex-Vice President Mike Pence is calling on federal lawmakers to eliminate tax deductions for gambling losses entirely, an unwanted scenario for resident US sports bettors and poker players.
Pence’s politically conservative Advancing American Freedom group sent a policy memo to offices on Capitol Hill earlier this week. In it, the AAF urged Washington to toss three bipartisan bills (including one led by Nevada Congresswoman Dina Titus) that would restore the full 100% deduction for gambling losses.
Federal lawmakers recently capped the gambling loss deduction at 90% under the One Big Beautiful Bill Act, which the likes of Titus are fighting against. In addition to the new tax rule being unnecessarily punitive, the congresswoman warned that the OBBB taxes would push people to use unregulated platforms.
Pence’s group, however, doesn’t even want the 90% deduction cap, preferring gamblers to be taxed in full.
why should American taxpayers foot the tax bill”
As the memo shared by political news subscription service Punchbowl News revealed, the AAF stated: “Americans have the freedom to gamble on sports, but why should American taxpayers foot the tax bill for sports gambling?”
The AAF further urged Washington to “encourage a pro-growth tax code by declining to reinstate full expensing for gambling losses.”
The post Mike Pence-Backed Group Urges Congress to Scrap Gambling Tax Deductions appeared first on Vegas Slots Online News.
