arrow_back Civic Audit
Share share

Reinstating Tax Rules for Limiting Wagering Losses and Related Expenses.

This bill reinstates and clarifies the rules regarding the deduction of losses from gambling transactions on tax returns. Citizens can only deduct losses from wagering, including related expenses, up to the total amount of gains realized from such transactions during the tax year. This measure aims to standardize tax treatment for individuals involved in gambling activities.
Key points
Gambling losses (wagering transactions) can only be deducted up to the amount of gambling gains realized.
This limitation explicitly includes any expenses or deductions incurred while carrying out wagering transactions.
The changes apply to tax years beginning after December 31, 2025.
article Official text account_balance Process page notifications_active Track this Bill
Status: Introduced
Civic Will
Checking votes...
I support
I oppose
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens (explained here). Start recording it now.
Additional Information
Print number: 119_HR_6985
Sponsor: Rep. Miller, Max L. [R-OH-7]
Process start date: 2026-01-08
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

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

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_6985.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2026-01-08.

What are the main provisions?

Key points include:

  • Gambling losses (wagering transactions) can only be deducted up to the amount of gambling gains realized.
  • This limitation explicitly includes any expenses or deductions incurred while carrying out wagering transactions.
  • The changes apply to tax years beginning after December 31, 2025.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Miller, Max L. [R-OH-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-24.

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Taxes Economy