Dina Titus urges House leaders to advance FAIR BET Act before adjournment
Regulation2 min read
US Representative Dina Titus urged House leaders to advance the FAIR BET Act before Congress adjourns for the year. The proposed bill would restore the full deduction for gambling losses; the current rule limits the deductible share to 90%, and the measure has not received a House floor vote.
Republican House leaders are being urged to advance legislation restoring the full federal deduction for gambling losses before Congress adjourns for the year, according to Rep. Dina Titus. The Nevada Democrat wants the FAIR BET Act attached to a must-pass bill in the final weeks of the session.
H.R. 4304 would undo a provision in the Senate-amended One Big Beautiful Bill Act, which Congress passed last year. That provision cut the portion of gambling losses eligible for deduction from 100% to 90%, potentially exposing gamblers to tax even without net winnings. A gambler reporting $100,000 in winnings and the same amount in losses, for instance, would be taxed on $10,000 under the revised rules. In that scenario, no gambling income would have been taxable under the previous full deduction.
In a letter to House Speaker Mike Johnson and Majority Leader Steve Scalise, Titus asked for the proposed correction to be included in legislation considered essential to pass before the session ends. She warned that the restriction could push players towards offshore and unregulated markets, reduce tax revenue and affect industry investment and jobs. Titus said restoring the deduction would provide greater certainty for people and businesses in regulated markets.
Titus could bring the proposal back in January if it is not included in a bill before Congress adjourns next month. Democrats are expected to control Congress in January after winning the midterm elections.