Senator Todd Young blocks Senate effort to restore gambling-loss tax deductions
Indiana Senator Todd Young blocked a Senate unanimous-consent request on 10 July to advance legislation restoring full deductions for gambling losses, according to the report. The proposal sought to overturn a new rule limiting deductible losses to 90% of winnings; Young objected unless an unrelated amendment was included. A separate House bill was also under way.
The stalled proposal leaves the limit on deductible gambling losses unaltered.