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US HB4304

Bill

Official Source

Status

Introduced

7/7/2025

Primary Sponsor

Dina Titus

Click for details

Origin

House of Representatives

119th Congress

AI Summary

  • Increases the deductible portion of gambling losses from 90% to 100% of wagering winnings by amending Section 165(d) of the Internal Revenue Code
  • Allows taxpayers to fully offset their gambling winnings with gambling losses for tax purposes, rather than being limited to a 90% deduction
  • Introduced July 7, 2025 by Rep. Titus (D-NV) and Rep. Khanna (D-CA) and referred to the House Ways and Means Committee

Legislative Description

Fair Accounting for Income Realized from Betting Earnings Taxation Act

Taxation

Last Action

Motion to Discharge Committee filed by Ms. Titus. Petition No: 119-16. (<a href="https://clerk.house.gov/DischargePetition/2026021216">Discharge petition</a> text with signatures.)

2/12/2026

Committee Referrals

Ways And Means7/7/2025

Full Bill Text

No bill text available