A key Republican believes a change to the gambling tax provisions in President Trump’s spending bill is on the way. According to the only Republican representing Nevada in Congress, the changes should be reverted in early 2026.
Rep. Mark Amodei, R-NV, a member of the House Appropriations Committee, told local media that changes are coming.
“We have been assured that when we wrap up this stuff in ’26 appropriations, that fix will be in there,” he told the Nevada Independent.
House Ways and Means Committee Chair Jason Smith, R-MO, has the most influence on the reversal’s process. Amodei said he spoke with Smith, who assured him it’s in the works.
Additionally, Amodei is working with Rep. Dina Titus, D-NV, to restore the gambling tax code.
When President Donald Trump passed the One Big Beautiful Bill earlier this year, it contained changes to the tax code that many believe will hurt the gambling industry.
The bill only allows gamblers to deduct only 90% of losses. As a result, it creates a tax on potential phantom income. The bill becomes law on Jan. 1, at which point gamblers could have to pay taxes despite a losing year.
Major Impact On Gaming Industry
High-stakes poker players and sports bettors have been concerned with the impact the provision may have on the gambling industry. Casino executives have also expressed concerns about how the provision could affect casino tourism.
Smith recently met with casino executives and promised to work to reverse the tax plan. Titus introduced the FAIR BET Act to reverse the provision but has thus far not found enough support to get a vote on the proposal. She has doubts Amodei can help the situation, but she said she remains hopeful.
“We’re talking to all of them all the time, but you can’t trust those people,” she said. “We’ll believe it when it’s signed. So, hopefully, that’s true. And he’s on the committee, he ought to be helping us, helping Nevada, so let’s hope he’s got an inside with the chairman.”
American Gaming Association CEO Bill Miller is optimistic the issue will get resolved early in the new year. During an appearance on the Business of Betting podcast earlier in December, he said he hasn’t spoken with a member of Congress who actually opposes restoring the 100% deduction.
Industry Stakeholders Think Fix Must Happen Soon
Congress has until April 2027 to make changes for 2026 tax returns. However, those in the industry are concerned that the longer the 90% deduction is in place, the more likely gamblers will stay away from casinos and poker tournaments.
Circa CEO Derek Stevens is already worried the bill will affect gambling totals on major sporting events early in the calendar year. The Super Bowl and March Madness gambling attract hordes of gamblers to Las Vegas.
“This could be fixed next year. The reality is that it needs to be done now,” Stevens said. “It’s already impacting wagering that goes into 2026.”
Poker Hall of Famer and 10-time World Series of Poker bracelet winner Erik Seidel has said he may semi-retire because of the tax provision.
