“The big and beautiful draft law” can show the troubles of the gamblers: What to know

The Item of Gambling Tax in Megabelle, President Trump, who passed the Congress earlier this month is to disturb the feathers on both sides of the corridor.

The spending discounts plan, which is approximately 1,000 pages, is a procedure that experts say will make the loss more expensive for gamblers, and that some Republicans say they were not aware of it even after it was passed.

Here are some things to know about the change in gambling tax.

What does the gambling tax?

It was a major component of the plan approved by the Republicans earlier this month extending the tax cuts at the expiration of the tax law of 2017 from Trump.

But among the hosts of the added tax changes in the plan, there was a ruling that reduces tax deduction for gambling losses from 100 percent to 90 percent. The plan will take place in effect at the beginning of next year, in the absence of work in Congress.

When asked about the plan in recent days, some members of the Republican Senate reduced the impact of the bill on their voters. But the members on both sides referred to the quick pace with which Congress moved to get a Trump tax agenda via the finish line.

“There was a reason for my desire for a conference as soon as we had a language already, and before we could move forward, this conference was not awarded,” said Senator Run Johnson, a member of the Senate Finance Committee.

“I knew that we had all kinds of judgments that we did not discuss at the conference, and I wanted to discuss them,” he said. “I wanted to wait.”

Who is affected?

Experts say that the measure may end in the sense of a major problem for professional gamblers.

“This does not affect the population on a large scale, but this can have a very significant impact on casino operators and the large group of people we see this affects professional gamblers,” Adam Hoover, Director of Tax Tax Policy at the Tax Corporation, said in an interview with him this week.

Hoffar said that the procedure will have to pay more gambels when they break even, describing a scenario in which the professional spends one million dollars a year to buy poker tournaments.

“Over that year, they also win, spend a total of one million dollars,” he explained. “Now this is breaking. They did not earn any money there already. In previous years, before changing this tax rule, they will not owe any net income.”

“However, with this change, instead of the ability to deduct a million dollars they spent on buying in the poker tournaments, they are only allowed to deduct $ 900,000,” he said.

He and others also raised fears that legislation endangered increasingly sports betting and stimulating external gambling.

How did you get the bill?

The Senate Writing Committee of the Senate said that the ruling made it in the plan because of the strict rules that govern the complex process that the Republicans used to pass the package.

In light of the disgraceful maneuver known as the budget settlement, the Republicans have shed light on the main tax law through Congress without democratic support in the Senate, exceeding the minimum number of 60 years required for most legislation to remove it from the upper room.

But the process comes with restrictions.

“It must be amended to create the impact of the budget,” said a spokesman for the committee to comply with the rules of reconciliation.

“In order to keep the gambling loss, it has been changed to 90 percent,” the spokesman said.

What will provide?

Appreciation from the Joint Committee on Taxes linking the expected revenues resulting from the ruling at about $ 1.1 billion during the next decade.

On the contrary, experts pointed to the total estimates of the package, which will add the plan more than 3 trillion dollars to the country’s inability to the same time frame.

Many costs come from tax proposals in the plan. At the same time, the new law includes major changes that may lead to hundreds of billions of dollars from low spending for medical aid and additional nutrition assistance program, new restrictions on student loan borrowers and the gradual disposal stage of multiple popular payment plans, and changes aimed at financing the consumer financial protection office.

“The tax burden does not fall on the industry itself and has no tax effects on the gambling industry,” said Lucy Dadian, a head researcher at the attendance of the attendance policies in an e -mail.

“However, the gambling industry is concerned about the low profitability of players can reduce demand and push players to the unorganized gambling markets.”

Will Congress retract?

Some Democrats have already been a warning, as Senator Catherine Cortin Cortez Memasto sought in vain to retreat earlier this month.

Democrat at Nevada said at the time: “This will lead to an irreplaceable damage to the game industry in our nation if it is valid – especially in the state of Nevada,” warning that it “would.”

The Senate Finance Committee said that the Chairman of the Board of Directors, Mike Crabo (R-Idaho) “is open to receive reactions from the affected stakeholders and learn more about reporting industry and compliance.”

They added, “While the committee heard of games associations about other provisions after issuing the text of the Finance Committee on June 16, there were no proven concerns with the threshold reduction,” they added.

Senator Ron Widen (raw), senior Democrats in the Finance Committee, was pressed on Tuesday whether negotiations on this issue have reached the level of leadership because some Republicans have expressed their interest in party tax procedures this year.

Widan said that Cortez Masto spoke to him immediately about the matter and that he intends to “help in any possible way,” describing it as “a very important issue for its voters.”

“The Republicans, according to my colleague, have done significant damage to its state’s economy just because they did not consult with anyone.” “They rushed through.”