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Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act
To amend the Internal Revenue Code of 1986 to reinstate the rules for wagering losses.
Summary
This bill amends the Internal Revenue Code to reinstate rules limiting deductions for gambling losses. Under the amended rules, losses from wagering transactions can only be deducted up to the amount of gains from wagering transactions in the same year. The amendment defines wagering losses to include all deductions incurred in carrying on gambling activities. The changes apply to tax returns for taxable years beginning after December 31, 2025.
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. Miller, Max L. [R-OH-7] (R-OH)
6 cosponsors
Actions (2)
- Jan 8, 2026 Referred to the House Committee on Ways and Means. · house
- Jan 8, 2026 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE HOUSE OF REPRESENTATIVES
January 8, 2026
Mr. Miller of Ohio (for himself and Mr. Horsford) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to reinstate the rules for 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 “Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act”.
SEC. 2. REINSTATEMENT OF RULES FOR WAGERING LOSSES.
(a) In General.—Section 165(d) of the Internal Revenue Code of 1986 is amended to read as follows:
“(d) Wagering Losses.—Losses from wagering transactions shall be allowed only to the extent of the gains from such transactions. For purposes of the preceding sentence, the term ‘losses from wagering transactions’ includes any deduction otherwise allowable under this chapter incurred in carrying on any wagering transaction.”.
(b) Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2025. <all>
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