Horsford and Miller introduce bill to restore full gambling-loss deductions
US Representatives Steven Horsford and Max Miller introduced the Full House Act to repeal the 90% cap on gambling-loss deductions, according to Horsford’s announcement. The proposal would allow taxpayers to deduct losses up to their winnings, reversing a limit that took effect on 1 January 2026. The lawmakers also filed the same language as an amendment to a House spending package for consideration by the Rules Committee.
The proposal could change federal tax treatment of gambling losses for operators’ customers and the wider gambling sector.