A $10,000 tax bill on zero net winnings: Titus’s fix

Ways & Means passed the fix, but it has not reached the House floor.

The hit

Nevada Democrat Dina Titus has written to House Speaker Mike Johnson & Majority Leader Steve Scalise asking them to attach her FAIR BET Act to must-pass legislation before Congress adjourns, according to Yogonet. The bill would restore the full federal gambling-loss tax deduction, reversing a change under the Senate-amended One Big Beautiful Bill Act, which Congress passed last year.

Why it matters

Under the current rule, a gambler who wins & loses the same amount still owes tax on income that was never real profit. Titus says that pushes bettors toward offshore sites with no consumer protections, cuts US tax revenue & threatens jobs in regulated gaming markets.

The record

Bill introduced	H.R. 4304, filed by Rep. Dina Titus, 7 July 2025
Committee vote	Approved 38-5 by House Ways & Means Committee, in September
Deduction cut	Reduced from 100% to 90% under the One Big Beautiful Bill Act
Example liability	$10,000 taxed on $100,000 winnings matched by $100,000 losses

What happens next

Congress returns from recess on Monday for its final weeks of the session. If the fix isn’t attached before adjournment, Titus could reintroduce it in January, according to Yogonet.

Sources: Dina Titus urges House leaders to fast-track FAIR BET Act before year-end adjournment

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