The System

NEW: After two months of near silence in the effort to fix the limitation on gambling loss deductions, we heard from @RepHorsford and @RepMaxMiller who said they “look forward to an finding an appropriate time to address this issue” @RepJasonSmith also reiterated his commitment to a fix. Frustrating to just hear more words and not see action, but we will just have to continue waiting for them to find the right vehicle for this fix. This was part of yesterday’s session in the House Ways and Means Committee, where Rep. Horsford (D-NV) alongside Rep. Miller (R-OH) offered the fix as an amendment to a different bill under consideration before withdrawing it. The main action points come after the 4 minute mark of this clip, with Committee Chairman Jason Smith (R-MO) supporting the approach of waiting for a better legislative vehicle for this provision. TLDR: The wait continues, but this issue hasn’t been completely ignored. This is the first time I’ve heard the House Ways and Means Committee address this issue during committee time

@4_Net_Three This thing?

@SaturdaySystem Char-Griller gas and charcoal. Best of both worlds.

Need a new grill…what should I get?

@PromoCactus 😂

I don’t know this man but he’s on 🔥

@BrandonMH1 @DM724412 Fair. I jumped because the price was 50 cents better than market. Maybe it holds

@SaturdaySystem @DM724412 That’s gonna be +350 on day 1 dog. Just wasting the interest that money could’ve made in your bank account

Even though its not the most optimal way to grow your bankroll - I still love betting futures that I think are EV. There is more to betting than just being a robot and only focusing on how to grow your BR as fast as possible. Having a fun season long sweat that out earns a savings bond in EV by a decent margin is good in my book.

It was a pleasure talking with you, Tom! Let's get this fix done. podcasts.apple.com/us/podcast/fix…

@DataBasedBets 🙏

@SaturdaySystem 🤯 congrats, what a day

The System still hunting…LFG.

@BryceLottos Chalky game. Dumb luck

@SaturdaySystem I remember my first day betting

@EVbetsKS 😂

🥱

@repdinatitus Thank you Dina. You’re the 🐐

I testified before the House Rules Committee about the urgent need to restore the gambling loss tax deduction to 100%. I submitted an amendment to this week’s Appropriations bill that would do just that. It’s time to get this fair, common sense fix over the finish line.

Gambling tax loss 90% deduction cap has another chance of being reversed today in the House Rules Committee. Reps. Miller (R-OH) & Horsford (D-NV), who intro'ed FULL HOUSE Act, filed it as amendment to DoD appropriations bill. They are now joined Malliotakis (R-NY) & Lee (D-NV).

.@RepJasonSmith, please include this fix for gamers in tomorrow's @WaysMeansCmte markup. Let's get this done.

🎲 Since the Senate inserted a provision in the Big, BS Budget Bill to lower the gambling loss deduction to 90%, I have been leading the bipartisan, bicameral effort to correct this unfair tax policy so that gamers do not have to pay taxes on phantom income. Now I am again urging @RepJasonSmith to finally do what’s right and include a fix in the next @WaysMeansCmte markup that protects many livelihoods #OnlyinDistrictOne.

Remember when Kambi hung this at +120 & 7.5% EV all week. Good times. Thank god for the kiosk