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US Senators Introduce Bill to Eliminate 0.25% Federal Gambling Excise Tax

  • A 0.25% tax is applied to the handle that gambling operators bring in
  • The new bill aims to boost job creation and combat the black market
  • The AGA believes the change could save operators a lot of money
USA financial graphic
Two US Senators have introduced a bill that aims to get rid of the current 0.25% federal excise tax that gambling operators pay on handle. [Image: Shutterstock.com]

Two US Senators have filed a bill that would abolish the 0.25% federal excise tax on gambling, a charge operators have to pay based on handle rather than gross gaming revenue.

Senators Cindy Hyde-Smith and Catherine Cortez Masto, the senators behind the “Withdrawing Arduous Gaming Excise Rates Act,” believe that the tax relief will lead to higher job creation in the industry and help combat the black market.

operators can save tens of millions of dollars annually if this change goes into effect

The American Gaming Association (AGA) supports the legislation, saying that operators can save tens of millions of dollars annually if this change goes into effect. The trade association believes that the current 0.25% tax hurts competition and is a reward to illegal offshore operators.

This is not the only bill up for consideration regarding the federal excise tax. The GRIT Act was introduced in January to maintain the current rate while directing half of the money towards gambling addiction services.

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