President Donald Trump said he is considering eliminating federal taxes on gambling winnings, floating a new idea that would add to his push to reduce or remove taxes on several types of income.
Speaking with reporters on Tuesday aboard Air Force One, Trump was asked whether he would support ending taxes on gambling payouts.
"We have no tax on tips, we have no tax on Social Security, and we have no tax on overtime," Trump said, according to Newsweek. "No tax on gambling winnings, I don't know. I'm gonna have to think about that."
Trump has also raised the possibility of dramatically shrinking the federal income tax, at times suggesting it could be cut sharply or even eliminated.
Trump previously said the government could "maybe" cut out income tax "completely" over the next couple of years, arguing that tariff revenue and investment would be "so large."
Any change to the tax treatment of gambling winnings would require congressional action, and it was not immediately clear what form a proposal would take or whether it would include limits by income level or dollar amount.
The White House did not announce a legislative plan tied to Trump's comments. No estimate of revenue loss was immediately available.
Under current federal law, gambling winnings are taxable and must be reported on annual returns, according to the IRS.
The IRS says gambling income includes winnings from lotteries, raffles, horse races, and casinos, plus cash payouts and the fair market value of prizes such as cars and trips.
Budget analysts have warned that sweeping tax cuts would be difficult to finance without major spending reductions, new revenue, or higher deficits.
Trump has argued that tariffs could generate enough money to allow broad tax relief, a claim that some economists have disputed.
Theodore Bunker ✉
Theodore Bunker, a Newsmax writer, has more than a decade covering news, media, and politics.
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