US House Rules Committee blocks FAIR BET Act amendment on gambling-loss deductions
The US House Rules Committee declined to advance the FAIR BET Act as an amendment to the 2026 National Defense Authorization Act, preventing a House floor vote, according to the report. The existing rule will limit deductible gambling losses to 90% from the 2026 tax year unless Congress acts. The bill’s future now rests with the House Ways and Means Committee or later tax legislation.
The decision leaves bettors facing the scheduled deduction limit unless lawmakers change the tax rule.