Discriminatory Gaming Tax Repeal Act of 2025

Hozzl · 2025-03-13T11:08:30Z

Explore the details of House Bill 1440 Discriminatory Gaming Tax Repeal Act of 2025 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

3/13/2025, 11:08 AM

Summary of Bill HR 1440

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 specifically 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.

Congressional Summary of HR 1440

Discriminatory Gaming Tax Repeal Act of 2025

This bill repeals the excise tax imposed on wagers (also known as the handle tax) and the occupational tax imposed on businesses receiving taxable wagers.

As background, an excise tax on wagers is imposed on businesses that accept wagers, persons conducting a wagering pool or lottery, and certain persons accepting wagers on behalf of another person. Under current law, the amount of the excise tax is (1) 0.25% of the amount wagered (also known as the handle) for wagers authorized by the state, or (2) 2% of the amount wagered for wagers not authorized by the state. (Some exceptions apply.)

Further, under current law, an annual occupational tax is imposed in the amount of (1) $50 for persons in the business of accepting taxable wagers (or persons accepting taxable wagers on such persons’ behalf) in a state where the wagers are authorized, or (2) $500 for such persons in states where the wagers are not authorized. (Some exceptions apply.)

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Current Status of Bill HR 1440

Bill HR 1440 is currently in the status of Bill Introduced since February 18, 2025. Bill HR 1440 was introduced during Congress 119 and was introduced to the House on February 18, 2025. Bill HR 1440's most recent activity was Referred to the House Committee on Ways and Means. as of February 18, 2025