Democratic Nevada Rep. Dina Titus said Friday she plans to introduce a bill to fix a provision in President Donald Trump’s budget that affects gambling tax deductions.
Part of the so-called “Big Beautiful Bill,” which the president signed into law Friday, changes how much bettors can deduct in losses from their taxes. As written, the new tax code will allow betters to deduct 90% of their loses against 100% of their gains. Previous law called for a 100-to-100 deduction.
“On Monday I’m introducing the FAIR BET Act, the Fair Accounting for Income Realized from Betting Earnings Taxation Act, to permanently restore the 100% loss deduction from gambling winnings,” Titus posted on X.
