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The House Rules Committee met Wednesday to discuss HR 7148. This is a bill bill introduced in the U.S. House of Representatives in the 119th Congress (2025–2026) called the Consolidated Appropriations Act, 2026. A gambling-related tax change is tied to this bill.
U.S. Rep. Dina Titus (D-Nev.) presented her FAIR BET Act for inclusion in the legislation.
Her measure would effectively restore the ability for taxpayers to deduct 100% of their documented gambling losses against their gambling winnings on their federal tax return.
Gamblers would be able to offset all their losses dollar-for-dollar with any winnings, so only net gambling profits are taxed — a longstanding rule for decades.
“This is not a Las Vegas problem. This is a widespread issue,” said Titus, whose district includes a portion of the Las Vegas Strip.
People are gambling on how gambling tax laws get rewritten
Current rules only let you deduct 90% of gambling losses
If you win $100K and lose $100K, you still owe tax on $10K, even though you broke even
That sounds pretty dumb to me…
Today two groups testified to restore a… pic.twitter.com/06e6cQSyTY— Prediction Labs (@predictionlabs) January 22, 2026
Many supporters of the FAIR BET Act believe adding it to a spending bill is the best approach in ensuring passage. While US President Donald Trump is not on record in regard to supporting any reversal of that specific provision in the Big Beautiful Bill, he did say while on board Air Force One in December he might consider eliminating federal taxes on gambling winnings, though no official commitment was provided at that time.
A fix would be required by year's end. Otherwise the gambling tax would have to be incorporated into an individual's 2026 filing for 2027.
Full testimony from @RepHorsford on restoring 100% gambling tax loss deductibility pic.twitter.com/dpK4tAjv8n
— Fairplaygov (@fairplaygov) January 21, 2026
- Gilbert Horowitz, Gambling911.com
