A surprising new coalition is speaking out against President Donald Trump's budget: gamblers.
Both amateur and professional gamblers are opposing the bill because of a provision that would tax their winnings and limit the amount of losses they can deduct, Bloomberg reported Wednesday. The 900-page bill would cap deductions for gambling losses at 90% and impose income taxes on gambling earnings.
“I’ve spoken to many clients and they’re very concerned,” Zachary Zimbile, an accountant with experience in gambling regulations, told the outlet. “If you add a 10% penalty, it’s going to eat into a lot of their profit.”
Professional gamblers like Phil Galfond, a professional poker player, explained, "You get taxed on more than you earned from gambling, even if you netted $0 (or less!)," Galfond wrote in a post on X.
The outrage over the gambling provisions comes at a time when Republicans on Capitol Hill work to scrape together enough votes to pass the legislation. The Senate version of the bill includes about $400 billion more in spending than the House version, which has pushed some fiscal conservatives to distance themselves from the bill.
Rep. Dina Titus (D-NV), who represents part of Las Vegas, is reportedly pushing the White House for a fix to the provision, Bloomberg reported. However, it remains to be seen whether Trump is willing to negotiate with a Democrat regarding specific provisions of his bill.
“It will have a big impact on gaming,” Titus told the outlet. “They thought it was just a handful of professional poker players, but a lot of amateurs have come out of the woodwork to oppose it too.”