House Ways and Means Committee Chairman Jason Smith (R-MO) met with three gaming industry CEOs on Thursday evening in Las Vegas to discuss the recent controversial change in the tax code that limited the amount gamblers can deduct from their winnings from 100 percent to 90 percent of their losses.
Less than 12 hours later, Smith committed to raising that percentage back to 100 percent by the end of the year before the change takes effect.
His comments came at a committee “field hearing” aimed at promoting the more than 1,000-page “One Big Beautiful Bill,” signed by President Donald Trump three weeks ago. The committee heard testimony from a restaurant server, DoorDash driver, and others about how aspects of the bill — namely stopping taxes on tips, the Trump campaign promise first made in Las Vegas — would benefit them.
