Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act
Congress moves to restore tax rule limiting gambling-loss deductions to the amount of winnings
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Congress would restore a rule that gambling losses can only be deducted up to the amount of gambling winnings.
- The bill says “gambling losses” includes other costs tied to betting, so you can’t use extra expenses to create a bigger tax write-off.
- This mainly affects people who gamble frequently, including professional gamblers who track costs connected to wagering.
- If you usually lose more than you win, this could raise your taxes because those extra losses wouldn’t reduce your taxable income.
- The change would start for tax years beginning after December 31, 2025 (basically, the 2026 tax year).
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Read twice and referred to the Committee on Finance.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
10 articles
Gambling Tax Alert: New Law Cuts Loss Deductions, Bettors Face Big Hit
Explains the 2026 change limiting deductible gambling losses to 90% and highlights legislative efforts to reverse it, including proposals to restore full deductibility.
Trump 2025 Tax Bill: What's Changed and How It Affects Your Taxes
Broad explainer of the July 2025 tax law; includes the gambling-loss deduction change among other provisions and when it takes effect.
Law Reversal Looming? Trump Eyes 2026 Gambling Winnings Tax Change
Covers ongoing backlash to the 90% cap and political/industry pressure to change the rule before/into 2026, referencing pushback and repeal efforts.
Source Information
Document Type
Congressional Bill
Official Title
Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act
Data Sources
Sponsor
Cosponsors
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