The Rules Committee blocked the FAIR BET act from the NDAA. The fix now rests with @WaysandMeansGOP and @RepJasonSmith. Please schedule a markup of H.R. 4304 to restore the full 100% gambling-loss deduction. Break-even bettors shouldn’t owe tax on phantom income. @AmericanGaming@repdinatitus
Show your support and like/retweet! Without the FAIR BET Act, thousands of bettors will be taxed on phantom income next year. This is common sense reform, make your voice heard. Tag your reps & demand action! 📢
We must fight alongside @repdinatitus to restore 100% gambling deductions. Phantom taxes are unfair and we won’t stop until this is fixed⚖️
Gambling is a legal activity, regulated by the government.
Those who engage enough to itemize – which could include a lot of regular Joes & Janes who just lucked into one big slot machine/video poker payout – should be able to claim losses up to 100% of winnings
Bettors/poker players etc. aren't asking to be able to deduct losses that exceed winnings. Again, just losses up to 100% of winnings.
To do otherwise, as the OBBB suggests at 90%, is to make people pay tax on income THEY DID NOT REALIZE.
I can think of nothing that Advances American Freedom less than taxing people on money they didn't make.
🚨 Let’s not forget that in 2026 gamblers can only deduct 90% of losses. That means paying taxes on money you never kept. It makes sports betting nearly impossible to profit from and is completely unfair. This must be overturned before 2026 or every bettor will face a phantom tax. We need to make noise and stand up for what is fair #PhantomTax #Sportsbetting #Gambling 🗣️
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