The provision tucked into the “Big Beautiful Bill” limits tax deductions for gambling losses, while still requiring professional bettors to pay income tax on all their winnings, according to published reports. Professional gamblers, like the poker players you see on TV, had been allowed to deduct all of their losses from their declared income.

The lengthy spending and tax bill was signed into law by Trump on July 4. Here's when some measures take effect.

Here's a look at the main components of the bill and how the changes could affect tax cuts, Medicaid, food stamps, offshore oil, energy and more in Louisiana.