Rep. Dina Titus will promote her FAIR BET Act at a House Ways and Means Committee field hearing. The hearing will take place in Las Vegas on July 25, 2025. She aims to restore full deductions for gambling losses. This move responds to a recent change in federal tax law.
Earlier this month, Congress capped the deduction for gambling losses at 90 percent. Before the change, gamblers could deduct losses equal to their winnings. Now, if someone wins $110,000 and loses $100,000, they may write off only $90,000. Consequently, the taxpayer faces a higher tax bill. Many professional gamers argue that this policy is unfair. Additionally, casual players also lost significant deductions.
Moreover, Titus stressed the bill’s broad support on both sides of the aisle. She posted on X that bipartisan backing exists for restoring full deductions. Meanwhile, the American Gaming Association, casino executives, and poker pros cheered her proposal. They noted that taxing losses someone never profited from creates “phantom income.”
Rep. Titus to Discuss FAIR BET Act
At the upcoming hearing, Titus will reference examples involving online casino games and online slot games. She plans to highlight how virtual gaming losses should still qualify for deductions. Consequently, she will argue that the current cap hurts tax fairness. Furthermore, she will invite testimony from affected gamblers, industry experts, and casino owners.
Critics counter that the reduced deduction helps offset revenue lost from recent tax cuts. However, proponents call that argument weak. They maintain that gamblers should not face tax on unreal gains. Thus, Titus’ FAIR BET Act aims to reinstate a full 100 percent write-off for losses.
If the Committee approves the bill, it must then pass the House. Subsequently, the Senate would review it, likely during the fall session. However, the deadline looms. The new cap takes effect on January 1, 2026. Therefore, time is short to restore the previous deduction rule.
Rep. Dina Titus will actively champion the FAIR BET Act at a high-profile hearing. She emphasizes the need for fair tax treatment of all gamblers. Transitional hearings and bipartisan support may boost the bill’s chances. Nevertheless, congressional and political hurdles remain ahead.
Last Updated on by jonathan r
