Rep. Dina Titus urges Congress to restore gambling loss tax deduction

Representative Dina Titus (D-NV) is calling on House Republican leadership to restore the full 100% gambling loss tax deduction before the end of 2026. The current 90% cap, established by the One Big Beautiful Bill Act in July 2025, applies to the 2026 tax year and can result in taxpayers owing federal income tax even if they break even on their winnings and losses.

Titus has requested that Speaker Mike Johnson and Majority Leader Steve Scalise attach the FAIR BET Act to must-pass legislation. The FAIR BET Act, which seeks a retroactive repeal of the cap, has already cleared the House Ways and Means Committee with a 38-5 vote but awaits a full House floor vote.

The Nevada Democrat warned that the current tax restriction could drive both professional and casual gamblers toward unregulated offshore markets. She argued that this shift would undermine consumer protections, reduce tax revenue, and negatively impact regulated gaming businesses and employment in the United States.