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.

Whether the American public comes to see the “Big Beautiful Bill” as “beautiful” remains to be seen. A June 26 Quinnipiac poll found 29% of voters support the bill, 55% opposed it, and 16% did not have an opinion. What’s clear is that Democrats will hold the bill against Trump during the 2026 midterm election campaign season.