US Poker Players May Get Full Tax Deduction for Losses Restored

The U.S. House Budget Committee has approved an initiative to revise Donald Trump's "Big Beautiful Bill." One of its provisions lowered the gambling loss deduction threshold from 100% to 90%. As a result, poker players would be forced to pay taxes even with a zero or negative bankroll.

Among the proposed amendments is a provision that would restore players' ability to take the full tax deduction. 38 committee members voted in favor of the updated bill, while 5 voted against.

Daniel Negreanu reacted to the committee vote results, calling out those who opposed the amendments:

"The five people who voted against it need to explain their logic and tell us why they think it's fair and right to force people to pay tax when they didn't make any income at all. Explain yourselves."

The Canadian pro was backed by Josh Arieh:

"Imagine how clueless you'd have to be to vote against this. Please explain your choice!"

If the amendments pass, the 90% limitation will be repealed retroactively. The bill still has to pass a vote in the full House of Representatives and in the Senate. However, this needs to happen before the current U.S. Congress finishes its term in January, otherwise the process will have to start over.

Congressman Steven Horsford declared his full determination to get the amendments passed and rated the chances of successfully completing this campaign highly. The politician stressed that the limit on tax deductions has a negative impact on the economies of states with a developed gambling industry.

Meanwhile, on one prediction platform the probability of the limitation being repealed before 2027 is put at just 30%.

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