Phil Hellmuth Says Ted Cruz Aiming to Stop ‘Poker Players Death Tax’
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Poker Hall of Famer Phil Hellmuth has revealed he’s been in direct contact with Senator Ted Cruz (R), saying he is "fighting to eliminate" controversial changes to gambling deductions included in the One Big Beautiful Bill Act (OBBB).
The 17-time bracelet winner took to X to share that he had spoken with Cruz, the lead Republican on the bill, who is now working to "fix the changes in deducting gambling losses in the OBBB."
Passed earlier this month, the bill includes an amendment that permanently caps gambling loss deductions at 90 percent of winnings. The move has alarmed much of the poker community, with many warning it could jeopardize the long-term viability of the game in the U.S.
High-profile pros including Daniel Negreanu, Phil Galfond, Doug Polk, and Hellmuth himself have all spoken out against the amendment, warning that it could severely impact professional players and pose an existential threat to the future of poker.
Hellmuth, who referred to the bill as the "Poker Players Death Tax," added that "Senator Cruz loves poker and is trying to save poker and the poker world."
Republican Senators Block Gambling Tax Reversal
However, despite Senator Cruz’s apparent support for rolling back the amendment, his Republican colleagues are not yet on board. On Thursday, Senate Republicans blocked an attempt to reverse the tax hike on professional gamblers.
The effort, led by Senator Catherine Cortez Masto (D) of Nevada, sought unanimous consent to pass a bill that would restore the full 100 percent deduction on gambling losses, with the industry vital to Nevada's tourism and gaming economy.
However, the proposal was blocked by Senator Todd Young (R) of Indiana.
“This is a Republican piece of legislation that is actually causing people to pay taxes on money they lost. It makes no sense at all,” said Cortez Masto.
“I’m disappointed, but I’m not done,” she added.
Ray Kondler of Kondler CPA, a Las Vegas-based firm specializing in gambling taxation, told PokerNews he expects the “Big Beautiful Bill” could “have a major effect on the industry” if changes are not made to its current form.
What Tax Experts Want Poker Players to Know About the OBBB
Hellmuth Joins Fellow Hall of Famers in Bounty Event
Away from his efforts to fight the gambling tax changes in the Big Beautiful Bill, Hellmuth is taking part in today’s $1,979 Poker Hall of Fame Bounty at Horseshoe and Paris Las Vegas, joining a stacked field of fellow Hall of Famers.
Day 1 of the event, which is already underway, features legends such as Barry Greenstein, Tom McEvoy, Daniel Negreanu, and many more of poker’s all-time greats.
The tournament kicked off on Friday with a special ceremony honoring the Hall of Fame’s newest inductee as Nick Schulman was officially welcomed into poker’s most exclusive club in his first year of eligibility.
Nick Schulman Selected as the 2025 Poker Hall of Fame Inductee
You can follow live reporting of Event #92: $1,979 Poker Hall of Fame Bounty on PokerNews, with Day 1 underway now.
