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Titus urges House leaders to restore gambling-loss deduction by year-end

Regulation

Rep. Dina Titus is pressing House leaders to attach a gambling-loss deduction change to must-pass legislation, seeking action by 31 December. Her proposed retroactive repeal would allow deductions up to winnings, undoing the 90% cap for 2026; Titus said the cap could drive gamblers towards unregulated markets and hurt regulated businesses. Any change would need approval from both chambers and the president.

A retroactive change could alter bettors’ allowable deductions for the 2026 tax year.

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Regulation

Dina Titus seeks House vote to restore full gambling-loss deductions

Nevada Representative Dina Titus filed a discharge petition to bring her FAIR BET Act to a House vote, seeking to reverse a tax rule that limits gambling-loss deductions to 90% of losses. The petition had gained no additional signatures by 20 February and requires 218 signatures to advance; the American Gaming Association has warned the cap could steer gamblers towards unregulated offshore offerings.

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