A bill to amend the Internal Revenue Code of 1954 to equalize the dollar amounts of income tax withholding on gambling winnings from horse racing, State-conducted lotteries, and certain other wagers.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase from $1,000 to $5,000 the dollar amount of winnings from gambling transactions which are subject to income tax withholding.…