A Senator’s opposition to gambling tax loss deduction legislation could present another roadblock to the long-stalled proposal.
Republican Oklahoma Sen. James Lankford told Punchbowl News earlier this week he is opposed to bipartisan legislation that would restore the 100% deduction of a gambler’s losses against their wins. Langford’s comments are one of the first from a senator expressing outright opposition to a proposal that has garnered backing from members of both chambers of Congress and both parties.
Oklahoma has more than 100 regulated gaming facilities, the most per capita of any state.
Starting this calendar year, gamblers who itemize their tax filings can only deduct 90% of their losses against their wins.
