U.S. President Donald Trump on Wednesday welcomed the Internal Revenue Service's decision that houses of worship could endorse political candidates to their congregations without risking losing their status as tax-exempt nonprofits.

Churches are now able to endorse political candidates after a landmark court decision striking down a decades-long rule.

Even if the megabill boosts charitable giving, nonprofits providing social services are likely to find themselves financially squeezed, an economist says.

Under prior law, taxpayers could deduct gambling losses up to the extent of their winnings from their taxable income.