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GOP Rejects FAIR BET Act to Restore Full Gambling Loss Deduction

4/8/2026

24 3 Full Breakdown

Summary

Story summary

FAIR BET Act would restore the 100% deduction for gambling losses, but GOP-controlled House Rules Committee rejected it over political and fiscal concerns.
Currently, gamblers can deduct losses only up to winnings, a limit from 2017 Tax Cuts and Jobs Act.
Supporters push for fairer tax treatment; opponents warn of revenue losses.
Rep. Dina Titus (D-Nev.) plans to reintroduce the measure, possibly as a standalone bill or in 2026 debates.

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Story summary

FAIR BET Act would restore the 100% deduction for gambling losses, but GOP-controlled House Rules Committee rejected it over political and fiscal concerns.
Currently, gamblers can deduct losses only up to winnings, a limit from 2017 Tax Cuts and Jobs Act.
Supporters push for fairer tax treatment; opponents warn of revenue losses.
Rep. Dina Titus (D-Nev.) plans to reintroduce the measure, possibly as a standalone bill or in 2026 debates.