One thing that must be changed if deductions are limited is that gambling income must be changed to a declaration of "NET" income instead of the current method of gross gambling winnings on page 1 and losses deducted up to winnings on page 2.Why? For example one year, the spouse and I visited a Reno casino and according to our win/loss statement, won $400,000 but LOST $405,000 at video poker. So,we LOST $5000 for the year. Not bad for about ten days of gambling for two people, right? And we don't owe any taxes because we LOST, right. Notwithstanding the boneheaded IRS agent I tried to explain this phenomenon to one year, it is quite obvious that with a cap on deduction, the spouse and I would be on the hook for taxes on $350,000!