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The Big Beautiful Bill and its consequences

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Mark Spence Mark Spence
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Didn’t think at first that this would become big, but now plenty of media have picked up on it, so it’s worth a thread, I guess.

07/22/2025 at 3:46 pm
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Mark Spence Mark Spence
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This was our first piece on the BBB. Seems they are targeting gamblers as well now.

The Big Beautiful Bill – Hidden Tax Trap for Gamblers

07/22/2025 at 4:01 pm
Mark Spence Mark Spence
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Then there was this…

Is the AGA Throwing American Gamblers Under the Bus?

07/22/2025 at 4:08 pm
Mark Spence Mark Spence
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There seems to be some resistance at least.

Big Beautiful Bill Stirs Resistance in Nevada

07/22/2025 at 4:13 pm
maxi.mo. maxi.mo.
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Just read the bill – it caps loss deductions at 90%, so 10% of your documented losses become “phantom” taxable income. Even if you break even, you’ll owe taxes on money you never pocketed. This is a stealth tax.

07/22/2025 at 4:41 pm
ILOVESLOTS ILOVESLOTS
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That 10% nondeductible carve‑out could generate tens of millions for the Treasury without raising headline rates. It also discourages high‑volume “sharp” players, arguably boosting casino hold percentages

07/22/2025 at 4:44 pm
TurnDownForWhat TurnDownForWhat
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I’m a weekend bettor – never thought I’d owe tax if I break even. Now I might, thanks to this so‑called “Big Beautiful Bill.” Feels like they’re penalizing fun

07/22/2025 at 4:48 pm
Bartleby Bartleby
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Nevada’s delegation is fighting back. Rep. Dina Titus introduced the FAIR BET Act to restore full loss deductibility – and she’s got bipartisan support, including from Rep. Mark Amodei

07/22/2025 at 4:50 pm
Tati_8 Tati_8
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Any tax that targets a specific pastime like this is unconstitutional. It’s a slippery slope: today gamblers, tomorrow another hobby. We need full repeal.

07/22/2025 at 4:54 pm
maxi.mo. maxi.mo.
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On the Senate side, Cortez Masto tried unanimous consent to roll back the cap, with Cruz and Rosen backing her – but Sen. Todd Young objected and tied it to unrelated amendments. Talk about political gamesmanship.

07/22/2025 at 5:40 pm
ILOVESLOTS ILOVESLOTS
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The AGA, curiously, praised the bill for “competitiveness and job creation,” while glossing over the loss‑cap provision. It’s clearly a strategic move to stay in the administration’s good graces

07/22/2025 at 5:44 pm
TurnDownForWhat TurnDownForWhat
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So the industry lobby group backs a policy that screws over its own customers? Doesn’t compute.

07/22/2025 at 5:48 pm
Bartleby Bartleby
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Derek Stevens of Circa warns it’ll cut state revenues by chasing away sharps and reducing play volume. If Nevada loses gaming income, we all pay in higher taxes elsewhere.

07/22/2025 at 5:53 pm
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