The massive tax and spending bill that President Donald Trump signed into law last week contains a provision limiting tax deductions for gambling losses that has professional bettors howling about being driven out of business.
The provision surprised many in the industry as well as numerous Republican senators involved in drafting the legislation, who told HuffPost they didn’t know how or why it was inserted into the bill. GOP lawmakers were under pressure to pass the bill by Trump’s self-imposed July 4 deadline.
“If you’re asking me how it got in there, no, I don’t know,” Sen. Chuck Grassley (R-Iowa) said during an interview on Tuesday.
“I don’t know anything about it. I’m not sure what it does,” Sen. John Cornyn (R-Texas) added.
