CONGRESS FOR VOTERS

RepublicanBill · H.R. 6985· House(119-HR-6985)

Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act

Rep. Miller
Age: 38 years
Ohio
Introduced
1/8/2026
Last activity
1/8/2026 — Referred to the House Committee on Ways and Means.
Sponsored by
Max Miller
Cosponsors
Republican - 2Democrat - 4
Taxation
  1. Introduced
  2. In Committee

What this bill would do

This bill is called the Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act. It was introduced in the House of Representatives on January 8, 2026. The legislation amends the Internal Revenue Code of 1986. Its main purpose is to reinstate the rules for wagering losses. Under this change, losses from wagering transactions will only be allowed to the extent of the gains from those transactions. This new rule applies to taxable years beginning after December 31, 2025.

Yes

  • Does this raise taxes on the highest earners?+2

    The bill limits the ability to use wagering losses to offset other types of income, which may increase the effective tax burden on high earners with large gambling losses.

  • Does this make the government pay for what it commits to?+1

    By limiting deductions for wagering losses, the bill prevents the reduction of taxable income through these losses, thereby protecting federal revenue.

The opposite

  • Would households on low incomes be better off under this?-2

    Limiting the deduction of losses can disproportionately impact lower-income individuals who rely on such deductions to manage their taxable income.

  • Would middle-income households be better off under this?-2

    The restriction on deducting wagering losses may increase the tax liability for middle-income individuals with significant gambling losses.

  • Would high-income households be better off under this?-2

    High-income earners may face a higher tax burden if they can no longer use wagering losses to offset other significant income sources.