A major change in how gambling tax is calculated is just a couple of weeks away, and it does not sound like rectifying the issue is top of mind for President Donald Trump.
During a press scrum aboard Air Force One on Wednesday
“I haven’t been asked that question in a long time. No tax on gambling? We have no tax on tips, we have no tax on Social Security, we have no tax on overtime. No tax on gambling winnings? I don’t know about that,” he said with a laugh and head shake. “I’m going to have to think about that.”
After that, he suggested that the air was getting rough and it was probably a good idea for everyone to return to their seats.
The plane was returning from a rally held at Mount Airy Casino Resort in Mt. Pocono, Pennsylvania. During the event, Trump addressed issues like affordability and climate change, but gambling was not one of them.
More pressing issues for the federal government, along with the government shutdown, has resulted in an uphill battle for efforts to repeal the change in gambling taxes.
When the budget was passed earlier this year, it included a provision that limited the losses gamblers could deduct from their winnings to only 90%, whereas previously they were allowed to write off all of there losses. What seemed like a small changed to those outside of the industry has major ramifications for serious gamblers, particularly bettors and poker players, as it is common for losses to outweigh wins.
One projection estimated $18 billion in lost betting handle for sportsbook alone and $1.5 billion in lost gross gaming revenue.
Earlier this week, Poker Hall of Famer Erik Seidel posted that he is considering “semi-retirement” specifically because the tax change makes playing full time untenable.
Rep. Dina Titus of Nevada introduced a piece of legislation to repeal the tax change and has tried to attach it to other bills, but to date, the bill has not moved. She continues to lobby for the measure, which is up to 21 co-sponsors.
The American Gaming Association and leaders in the gaming community have also met with lawmakers to draw attention to the issue.
The tentative adjournment date for the year is Dec. 19, which means there is less than two weeks for Congress to take action on the matter.
