Rep. Dina Titus (D-NV) is attempting to gain some traction for her FAIR BET Act. Her legislation would roll back the gambling tax implications in the One Big Beautiful Bill Act.
President Donald Trump signed the spending bill was signed into law last. However, there was a provision in it that reduced tax deductions from gambling losses from 100% to 90%. The change creates the possibility of “phantom income.” Gamblers could possibly pay taxes despite having a losing year.
Titus’s FAIR BET Act (Fair Accounting for Income Realized from Betting Earnings Taxation) would repeal that provision, but the House Ways and Means Committee has yet to consider the issue after eight months. She has now filed a discharge petition to bring the bill to the House floor for a vote.
“Both high-stakes and hobby gamblers are struggling, and local economies … that depend on gaming revenue are hurting,” she said on Twitter/X. “We need 218 signatures to bring this commonsense fix to the floor. Call your representatives and tell them to sign on.”
Slow Movement On Repeal
In January, the congresswoman hoped to have the bill included as an amendment to a spending bill, but the House Rules Committee rejected that effort despite bipartisan support.
The provision has been the subject of significant discussion in the gaming industry for months. Poker players, casino executives, and others have warned that it could have a major negative impact on the gaming industry.
Another effort to restore the 100% loss deduction, HR 6985, has been filed by Rep. Steven Horsford (D-NV) and Rep. Max Miller (R-OH). Known as the FULL HOUSE Act, that bill is also stuck in the House Ways and Means Committee.
In December, Poker Hall-of-Famer and 10-time World Series of Poker bracelet winner Erik Seidel said the provision may put him into semi-retirement. That same month, several casino executives met with Ways and Means Chair Rep. Jason Smith (R-MO) to share their concerns about the tax change.
One study recently reported that it could cause an $18 billion hit to annual sports betting handle.
