Nevada Democratic Sen. Catherine Cortez Masto will introduce legislation to the Thursday to repeal a tax provision on gambling losses this is part of President Donald Trump’s recently passed “One Big Beautiful Bill Act” (OBBBA).
OBBBA, which passed July 4, includes a provision stating that gamblers can only deduct 90% of their losses. Previously, gamblers could deduct 100%, so the bill poses concern that sharp bettors will take their business offshore, which will cost state tax dollars.
Casino Reports obtained a copy of Cortez Masto’s bill and her office told Casino Reports that the bill — ‘‘Facilitating Useful Loss Limitations to Help Our Unique Service Economy” (FULL HOUSE Act), will be introduced via unanimous consent.
“Any one senator can object to the bill’s passage, but we’re hopeful it could pass given the bipartisan support for fixing this issue,” a Cortez Masto’s spokesperson said.
