S. 4872, also known as the "Withdrawing Arduous Gaming Excise Rates Act" or the "WAGER Act," seeks to change tax rules under the Internal Revenue Code of 1986. The bill proposes to exempt sports betting from the excise tax on authorized wagers if such betting is legally...
Simple Explanation
The WAGER Act wants to change the way taxes work for sports betting. It plans to stop charging extra taxes on bets made on sports games if the state or tribal laws say it's okay.