Casino Money Tied to Lawmakers Pushing Gambling Tax Break
Several lawmakers who received substantial campaign donations from the gambling industry are supporting legislation to restore a full tax deduction for gambling losses.Summary
Federal fundraising records reveal a connection between campaign donations from the gambling industry and lawmakers' support for a tax break benefiting casinos. Nevada Representatives Susie Lee, Steven Horsford, Mark Amodei, and Dina Titus are advocating to reinstate the full tax deduction for gambling losses, reversing a recent change that limited write-offs to 90% of losses. These lawmakers have collectively received hundreds of thousands of dollars in donations from casino companies like MGM Resorts, Caesars Entertainment, and Wynn Resorts, as well as industry PACs and executives. The American Gaming Association (AGA) has also lobbied for the change, arguing that the current cap forces gamblers to pay taxes on money they haven't actually gained. Lawmakers frame the issue as a matter of fairness, asserting that taxes should only be levied on actual profits. While Nevada lawmakers are leading the charge, the proposal has garnered bipartisan support, with some representatives backing the change despite not receiving significant gambling industry donations. Supporters emphasize the importance of the gaming industry to Nevada's economy and its impact on jobs and revenue.
(Source：Gamblingnews)