President Donald Trump's tax bill, signed into law July 4, reduces how many losses a gambler can deduct. Here's how the changes will work.

Lawmakers approved language that would implement a 90% cap on how much gamblers can deduct from their losses against winnings, down from current law that allows them to earn 100% back.

A s Americans sift through the wreckage of Donald Trump’s One Big Beautiful Act and begin to understand just how damaging it might be — from the draconian cuts to Medicaid and