Nevada Rep. Dina Titus will introduce the Fair Accounting for Income Realized from Betting Earnings Taxation Act (FAIR BET Act) as an amendment to the 2026 National Defense Authorization Act (NDAA), Titus announced on X Wednesday.
Titus initially introduced the FAIR BET Act July 7 to the Committee on Ways and Means in response to President Donald Trump’s One Big Beautiful Bill Act (OBBBA), which passed July 4. The OBBBA includes a provision that states that gamblers would only be able to deduct 90% of losses rather than the previous 100%, meaning overall losing bettors could potentially owe tax money at year’s end. The FAIR BET Act would undo the effects of the wagering loss provision in the OBBBA.
