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An under-the-radar provision inside President Donald Trump’s “One Big, Beautiful Bill Act” will reduce the amount of gambling losses someone can deduct on their taxes.

U.S. House of Representatives Speaker Mike Johnson looks at U.S. President Donald Trump signing the sweeping spending and tax legislation, known as the "One Big Beautiful Bill Act," to mark Independence Day, at the White House in Washington, D.C., U.S., July 4, 2025.

The bill, ushered through Congress by Republican leadership and signed by Trump Friday, includes $4.5 trillion in tax cuts, slashes spending on Medicaid, and creates temporary tax deductions for overtime and tipped income. It includes $170 billion for immigrant detention and for new personnel for Immigration and Customs Enforcement.

The bill would extend tax cuts from Trump’s first term and slash more than $1.1 trillion from Medicaid and other health-care programs.

Senate GOP unveiled changes to health care policies in tax legislation in a bid to win over Republican holdouts and pass muster with budget rules.