S 2230 Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.
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 (wagering) losses. Under the bill, taxpayers may only deduct gambling losses to the extent they have gambling gains in the same year; in other words, gambling losses cannot exceed gambling winnings for tax purposes. The bill clarifies that any deductions incurred in conducting gambling transactions must be offset against gambling gains. The changes are effective 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)
8 cosponsors
- Sen. Alsobrooks, Angela D. [D-MD] (D-MD)
- Sen. Cassidy, Bill [R-LA] (R-LA)
- Sen. Cruz, Ted [R-TX] (R-TX)
- Sen. Hagerty, Bill [R-TN] (R-TN)
- Sen. Hyde-Smith, Cindy [R-MS] (R-MS)
- Sen. Peters, Gary C. [D-MI] (D-MI)
- Sen. Rosen, Jacky [D-NV] (D-NV)
- Sen. Slotkin, Elissa [D-MI] (D-MI)
Actions (2)
- Jul 9, 2025 Read twice and referred to the Committee on Finance. · senate
- Jul 9, 2025 Introduced in Senate
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 SENATE OF THE UNITED STATES
July 9, 2025
Ms. Cortez Masto (for herself, Ms. Rosen, and Mr. Cruz) introduced the following bill; which was read twice and referred to the Committee on Finance
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>
Comments