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Fair Accounting for Income Realized from Betting Earnings Taxation Act
To amend the Internal Revenue Code of 1986 with respect to wagering losses.
Summary
This bill amends the Internal Revenue Code to change the tax treatment of wagering losses. Currently, taxpayers can deduct wagering losses against wagering gains, but only up to 90 percent of their gains. The bill would increase this limit to 100 percent, allowing taxpayers to deduct the full amount of wagering losses against wagering gains on their tax returns.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Titus, Dina [D-NV-1] (D-NV)
25 cosponsors
- Rep. Amodei, Mark E. [R-NV-2] (R-NV)
- Rep. Barr, Andy [R-KY-6] (R-KY)
- Rep. Bergman, Jack [R-MI-1] (R-MI)
- Rep. Cisneros, Gilbert Ray [D-CA-31] (D-CA)
- Rep. Cole, Tom [R-OK-4] (R-OK)
- Rep. Deluzio, Christopher R. [D-PA-17] (D-PA)
- Rep. Ezell, Mike [R-MS-4] (R-MS)
- Rep. Gottheimer, Josh [D-NJ-5] (D-NJ)
- Rep. Gray, Adam [D-CA-13] (D-CA)
- Rep. Horsford, Steven [D-NV-4] (D-NV)
- Rep. Khanna, Ro [D-CA-17] (D-CA)
- Rep. LaLota, Nick [R-NY-1] (R-NY)
- Rep. Lee, Susie [D-NV-3] (D-NV)
- Rep. McGarvey, Morgan [D-KY-3] (D-KY)
- Rep. Miller, Max L. [R-OH-7] (R-OH)
- Rep. Nehls, Troy E. [R-TX-22] (R-TX)
- Rep. Reschenthaler, Guy [R-PA-14] (R-PA)
- Rep. Ruiz, Raul [D-CA-25] (D-CA)
- Rep. Salinas, Andrea [D-OR-6] (D-OR)
- Rep. Soto, Darren [D-FL-9] (D-FL)
- Rep. Stanton, Greg [D-AZ-4] (D-AZ)
- Rep. Stevens, Haley M. [D-MI-11] (D-MI)
- Rep. Suozzi, Thomas R. [D-NY-3] (D-NY)
- Rep. Valadao, David G. [R-CA-22] (R-CA)
- Rep. Van Drew, Jefferson [R-NJ-2] (R-NJ)
Actions (3)
- Feb 12, 2026 Motion to Discharge Committee filed by Ms. Titus. Petition No: 119-16. (<a href="https://clerk.house.gov/DischargePetition/2026021216">Discharge petition</a> text with signatures.) · house
- Jul 7, 2025 Referred to the House Committee on Ways and Means. · house
- Jul 7, 2025 Introduced in House
Similar bills (6)
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Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE HOUSE OF REPRESENTATIVES
July 7, 2025
Ms. Titus (for herself and Mr. Khanna) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 with respect to wagering losses.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Fair Accounting for Income Realized from Betting Earnings Taxation Act or ‘FAIR Bet Act”’.
SEC. 2. AMENDMENT TO WAGERING LOSS PROVISION.
Section 165(d) of the Internal Revenue Code of 1986, as amended, is amended—
(1) by striking “90 percent” and inserting “100 percent”. <all>
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