New Tax law limits business or rental loss to offset W2 wages

[Nick Glatzer]

I came across this statement in an article on the new tax law. 

"The new tax law restricts taxpayers from deducting losses incurred in an active trade or business from wage income or portfolio income and this will apply to existing investment and becomes effective in 2018."

My understanding is that rental losses (like the 25k landlord deduction) will no longer offset any W2 wages, but only other self-employment income.

Could anyone confirm this is correct?

@Brandon Hall