US Senate proposal would limit gambling-loss deductions to 90%
The Senate version of the One Big Beautiful Bill would cap federal tax deductions for gambling losses at 90% of losses, a change described in media reports about the legislation. The bill was due for a House vote by 2 July, although Senate Majority Leader John Thune said final approval could be delayed. The proposal’s survival in the final bill remained uncertain.
The proposed cap could increase taxable income for gamblers and affect operators that serve professional players.