Bill blocked
Senate Republicans have blocked a bill by Senator Catherine Cortez Masto (D-Nevada) designed to reverse a controversial tax hike on professional gamblers.
Sen. Cortez Masto on Thursday sought unanimous consent on the senate floor to reverse the proposed 90% tax deduction on gambling losses back to 100%.
still trying to figure out
President Donald Trump’s Big Beautiful Bill, signed off on last week, holds a stack of provisions altering federal programs and the tax code – provisions, according to reports, that many lawmakers have admitted they weren’t aware of, and are still trying to figure out.
Cortez Masto’s argument focused on the gambling provision, which she told the floor “many Republicans, many Democrats” didn’t even know was BBB related.
The senator’s hope to reverse the tax, however, fell flat after an objection from Senator Todd Young (R-Indiana) contributed to derailing her efforts.
Objection with benefits
Cortez Masto argued that the BBB provision “will do irreparable harm to our nation’s gaming industry if it takes effect — especially in Nevada.”
deductions would “disincentivize” gamblers
According to The Hill, Cortez Masto added the deductions would “disincentivize” gamblers, referencing those currently competing at the World Series of Poker in Las Vegas.
“It will move major events that drive our economy offshore and push wagering into illegal markets, and it could punish tourists who come to Vegas to win big,” the senator told the floor.
Enter Sen. Young, who while objecting to Cortez Masto’s motion, said he would accept it if Democrats agreed to his religious institution-focused provisions relating to the BBB.
Senator Ron Wyden (D-Oregon) baulked at Young’s attempt “to pass this special tax carve-out for just one institution” and his objection ended Cortez Masto’s hopes, at least for now.
Will to go on
Cortez Masto stated she still intends to push her tax bill revision through, while also expressing her frustration with GOP senators.
“It is a shame we cannot pass this common sense fix because Republicans want to weigh it down with unrelated measures that they voted to support.”
Cortez Masto’s efforts align with those of US Congresswoman Dina Titus (D-Nevada), who on Monday tabled the Fair Bet Act in support of gamblers.
