Legislation to restore a key gambling loss tax deduction still awaits further action as the U.S. House of Representatives returns to normal business.
With the House adjourned during a prolonged government shutdown, proposals to restore the tax deductions could not be debated or advanced. The House now returns to a more typical schedule, but with holiday breaks and multiple other pressing legislative matters pending before a year-end deadline, the chances of a repeal continue to decline…
The bill’s backers as well as leading gaming industry stakeholders remain publicly optimistic the repeal can pass in the next two months. Still, a failure to pass the restoration could have far-reaching consequences across the regulated gaming industry.
