{"id":257,"date":"2024-06-27T04:54:33","date_gmt":"2024-06-27T01:54:33","guid":{"rendered":"https:\/\/luckycreek100nodepositbonus2024.icu\/2024\/06\/27\/sports-betting-tax-repeal-bill-reintroduced-in-us-house\/"},"modified":"2024-06-27T04:54:33","modified_gmt":"2024-06-27T01:54:33","slug":"sports-betting-tax-repeal-bill-reintroduced-in-us-house","status":"publish","type":"post","link":"https:\/\/luckycreek100nodepositbonus2024.icu\/2024\/06\/27\/sports-betting-tax-repeal-bill-reintroduced-in-us-house\/","title":{"rendered":"Sports Betting Tax Repeal Bill Reintroduced in US House"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/cv5ccYIxlrI\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>A fresh legislative proposal has been presented in the House of Representatives that would eliminate the federal levy on sports wagering. This legislation, titled the &#8220;Discriminatory Gaming Tax Repeal Act,&#8221; seeks to abolish the 0.25% excise duty, also recognized as the &#8220;handle tax,&#8221; which is applied to all authorized sports betting activities.<\/p>\n<p>The bill was reintroduced by Representatives Dina Titus (D-NV) and Guy Reschenthaler (R-PA), who jointly lead the bipartisan Congressional Gaming Caucus. They contend that the tax is unnecessary and actually promotes illicit betting operations. <\/p>\n<p>In addition to the excise tax, sports betting enterprises are required to pay a $50 tax per employee annually. The representatives assert that these taxes combined would negatively impact employment and lead to an increase in illegal betting.<\/p>\n<p>Titus stated, &#8220;As sports betting expands rapidly nationwide, it&#8217;s time to abolish the handle tax. It penalizes legal betting companies and hinders their ability to create jobs.&#8221;<\/p>\n<p>Reschenthaler added, &#8220;I&#8217;m diligently working to ensure this bill&#8217;s passage because I aim to witness the growth of the legal betting market across the nation. This industry is beneficial to local economies.&#8221;<\/p>\n<p>In Nevada, Titus&#8217;s home state, the excise tax cost the state nearly $22 million in 2022. This figure surpasses the national average by more than fourfold. <\/p>\n<p>The Internal Revenue Service is unable to determine how the national government utilizes these levies.<\/p>\n<p>Reschenthaler emphasized the beneficial influence of the gaming sector on the national economy.<\/p>\n<p>&#8220;The gaming industry generates over a million positions in the United States, including 33,171 in Pennsylvania, and contributes over $70 billion in income to state and local authorities nationwide,&#8221; he emphasized.<\/p>\n<p>&#8220;However, outdated tax laws and burdensome rules obstruct the growth of legal operators and encourage illicit activity. The Discriminatory Gaming Tax Repeal Act will ensure that the gaming industry can create high-paying positions and drive economic expansion in southwestern Pennsylvania and across the nation.<\/p>\n<p>&#8220;I am pleased to join with Co-Chair Titus to introduce this bipartisan bill and urge our colleagues in the House to support it.&#8221;<\/p>\n<p>Considering this year&#8217;s March Madness tournament, the co-chair noted that 68 million American adults intend to bet $15.5 billion on the NCAA Men&#8217;s Division I Basketball Tournament.<\/p>\n<p>However, this isn&#8217;t the first time the committee has attempted to eliminate the excise tax, and it&#8217;s evident that operators and lawmakers alike desire to end the requirement given the rapid growth of sports betting in the U.S.<\/p>\n<p>Sign up for the iGaming News newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p class=\"text-justify mb-2\" >A fresh legislative proposal has been presented in the House of Representatives that would eliminate the federal levy on sports wagering. This legislation, titled the &#8220;Discriminatory Gaming Tax Repeal Act,&#8221; seeks to abolish the 0.25% excise duty, also recognized as the &#8220;handle tax,&#8221; which is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sports Betting Tax Repeal: A New Era for Wagering?<\/title>\n<meta name=\"description\" content=\"Congress considers eliminating the federal tax on sports betting, potentially boosting the industry and impacting bettors\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/luckycreek100nodepositbonus2024.icu\/2024\/06\/27\/sports-betting-tax-repeal-bill-reintroduced-in-us-house\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Sports Betting Tax Repeal Bill Reintroduced in US House\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Congress considers eliminating the federal tax on sports betting, potentially boosting the industry and impacting bettors\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/luckycreek100nodepositbonus2024.icu\/2024\/06\/27\/sports-betting-tax-repeal-bill-reintroduced-in-us-house\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Unlock the Secrets of Casino Success | Tips, News &amp; Licensed Games\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T01:54:33+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/luckycreek100nodepositbonus2024.icu\/2024\/06\/27\/sports-betting-tax-repeal-bill-reintroduced-in-us-house\/\",\"url\":\"https:\/\/luckycreek100nodepositbonus2024.icu\/2024\/06\/27\/sports-betting-tax-repeal-bill-reintroduced-in-us-house\/\",\"name\":\"Sports Betting Tax Repeal: A New Era for Wagering?\",\"isPartOf\":{\"@id\":\"https:\/\/luckycreek100nodepositbonus2024.icu\/#website\"},\"datePublished\":\"2024-06-27T01:54:33+00:00\",\"dateModified\":\"2024-06-27T01:54:33+00:00\",\"author\":{\"@id\":\"https:\/\/luckycreek100nodepositbonus2024.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Congress considers eliminating the federal tax on sports betting, potentially boosting the industry and impacting bettors\",\"breadcrumb\":{\"@id\":\"https:\/\/luckycreek100nodepositbonus2024.icu\/2024\/06\/27\/sports-betting-tax-repeal-bill-reintroduced-in-us-house\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/luckycreek100nodepositbonus2024.icu\/2024\/06\/27\/sports-betting-tax-repeal-bill-reintroduced-in-us-house\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/luckycreek100nodepositbonus2024.icu\/2024\/06\/27\/sports-betting-tax-repeal-bill-reintroduced-in-us-house\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/luckycreek100nodepositbonus2024.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sports Betting Tax Repeal Bill Reintroduced in US House\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/luckycreek100nodepositbonus2024.icu\/#website\",\"url\":\"https:\/\/luckycreek100nodepositbonus2024.icu\/\",\"name\":\"Unlock the Secrets of Casino Success | Tips, News &amp; Licensed Games\",\"description\":\"Explore the latest trends and opportunities in online gambling with our up-to-date news, in-depth game reviews, and informative insights. 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