CONGRESS FOR VOTERS

DemocratBill · H.R. 4304· House(119-HR-4304)

Fair Accounting for Income Realized from Betting Earnings Taxation Act

Rep. Titus
Age: 76 years
Nevada
Introduced
7/7/2025
Last activity
2/12/2026 — 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.)
Sponsored by
Dina Titus
Cosponsors
Democrat - 14Republican - 11
Taxation
  1. Introduced

What this bill would do

This bill, titled the "Fair Accounting for Income Realized from Betting Earnings Taxation Act" or "FAIR Bet Act," proposes an amendment to the Internal Revenue Code of 1986. The primary purpose is to change how wagering losses are handled. Specifically, it seeks to amend Section 165(d) of the code. The change involves striking the current "90 percent" figure and replacing it with "100 percent."

Yes· 3 of 5

  • Would middle-income households be better off under this?+3

    Provides more comprehensive deduction of losses which can assist middle-income earners with gambling activities.

  • Would high-income households be better off under this?+3

    Allows full deduction of losses, which benefits higher income earners with significant wagering activity.

  • Would people with substantial wealth be better off under this?+3

    Provides higher deduction limits for those with significant wagering losses.

The opposite

  • Does this reduce what the federal government owes?-1

    By allowing more deductions, the bill could slightly reduce federal tax revenue.