Morning Brew Daily New Tax Bill Rocks Gambling Industry & ‘Superman’ Soars at the Box Office
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Jul 14, 2025 Professional gamblers are reeling from a new tax bill that threatens their earnings. As Trump considers tariffs on the EU and Mexico, markets are uncertain about his plans. Meanwhile, Bad Bunny's success is a significant boost to Puerto Rico's economy. The latest Superman film is soaring at the box office, marking a comeback for DC. Plus, who knew cupholders could sway car buyers? This lively discussion covers everything from entertainment to economic insights, making for a captivating listen!
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New Tax Law Hits Gamblers Hard
- A new tax law now limits gambling losses deductibility to 90%, causing professional gamblers to owe taxes even when breaking even.
- This change threatens the viability of professional gambling and risks pushing players to illegal markets.
Tariffs Shadow Market Rally
- Trump announced new tariffs on the EU and Mexico effective August 1, with wiggle room for negotiations.
- Despite tariff threats, Wall Street remains bullish, but risks of market volatility remain high.
Bad Bunny Boosts Puerto Rico Economy
- Bad Bunny's 30-concert residency in Puerto Rico is expected to bring 600,000 visitors and $181 million to the local economy.
- This concentrated economic boost has improved Puerto Rico's economic outlook and tourism job growth.