Vicente Pate
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Discriminatory Gaming Tax Repeal Act of 2025
11 days agoRecent Activity Alert
Bill 119 HR 1440, also known as the "To amend the Internal Revenue Code of 1986 to repeal the excise taxes on wagering" bill, aims to eliminate the excise taxes that are currently imposed on wagering activities. The bill spec...
ifically targets the taxes that are levied on bets placed on various forms of gambling, such as sports betting, casino games, and horse racing.
If passed, this legislation would effectively remove the burden of these excise taxes from individuals and businesses engaged in wagering activities. Proponents of the bill argue that these taxes are unnecessary and burdensome, and that their elimination would promote economic growth and individual freedom.
Opponents of the bill, however, raise concerns about the potential loss of revenue that would result from repealing these excise taxes. They argue that these taxes play an important role in funding various government programs and services, and that their elimination could have negative consequences for the overall economy. Overall, the passage of Bill 119 HR 1440 would have significant implications for the gambling industry and for individuals who participate in wagering activities. It remains to be seen how Congress will ultimately decide on this issue.
If passed, this legislation would effectively remove the burden of these excise taxes from individuals and businesses engaged in wagering activities. Proponents of the bill argue that these taxes are unnecessary and burdensome, and that their elimination would promote economic growth and individual freedom.
Opponents of the bill, however, raise concerns about the potential loss of revenue that would result from repealing these excise taxes. They argue that these taxes play an important role in funding various government programs and services, and that their elimination could have negative consequences for the overall economy. Overall, the passage of Bill 119 HR 1440 would have significant implications for the gambling industry and for individuals who participate in wagering activities. It remains to be seen how Congress will ultimately decide on this issue.