US Congress to consider repealing 0.25% federal handle tax

The United States Congress is to consider a new federal bill aiming to remove a national 0.25% excise tax on sports wagering handle.


HB2350, also known as HR2350, proposes amending the Internal Revenue Code of 1986, specifically chapter 35, which relates to taxes on wagering.

First introduced in 1951, the tax does not apply to horse racing or sports betting operated by state lotteries, though operators eligible for the tax must also pay a $50-per-head employee tax.

Representative Dina Titus of Nevada introduced the bill, while Representatives Mark Amodei and Steven Horsford also of Nevada, as well as Representative Guy Reschenthaler from Pennsylvania, are sponsoring the bill.

Titus and Reschenthaler introduced a similar bill in July last year, but this failed to progress past the committee stage.

Read the full story on iGB North America.