President Trump has signalled that he is considering a major change to U.S. taxation by potentially eliminating federal taxes on gambling winnings, part of a broader strategy to reduce what his administration calls burdens on everyday earners. The proposal, still in a conceptual stage, builds on recent reforms that removed taxes on tips, Social Security benefits and overtime. Under current law, gambling earnings above certain thresholds trigger tax reporting and withholding, with net income subject to federal tax.