Finally, after 14 months of uncertainty, my fix to restore the 100% tax deduction for gambling losses has been passed out of committee.
I was the first Member of Congress to recognize this injustice when I introduced my provision to correct it on July 7, 2025. Since then, I have amplified this issue nationally and brought it to the attention of my colleagues, including members of @WaysandMeansGOP.
Now it is time for us to push this commonsense solution to the House floor, to the Senate, and finally to the President’s desk. I won’t stop fighting until we get this over the finish line.
My FAIR BET Act has been sitting in @WaysMeansCmte for eight months, despite commitments from @HouseGOP to restore the full gambling loss deduction.
I am now filing a discharge petition to bring it to the House floor for a vote.
Both high-stakes and hobby gamblers are struggling, and local economies like #OnlyInDistrictOne that depend on gaming revenue are hurting. We need 218 signatures to bring this commonsense fix to the floor. Call your representatives and tell them to sign on.
https://t.co/bViIA33QVa
I testified before the House Rules Committee about the urgent need to restore the gambling loss tax deduction to 100%.
I submitted an amendment to this week’s Appropriations bill that would do just that.
It’s time to get this fair, common sense fix over the finish line.
The fight to restore the 100% gambling loss tax deduction continues.
I’ve introduced the #FAIRBETAct as an amendment to the 2026 National Defense Authorization Act (NDAA).
I strongly encourage the Republicans to make this amendment in order when it goes before the House Rules Committee upon our return to Congress next month.
Changing the gambling loss deduction to 90% will lead to decreased jobs and tax revenue and benefit illegal operators. @Reason explains why the FAIR BET Act is needed.
https://t.co/Pg524NI5hg
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.
I welcome all other members to join this common sense fix.
Set a goal for this NBA SZN: break 100U.
Finished at +102.53U | 59.4% |+9.82 ROI
Profitable in 9/9 months & 65% of weeks.
All 887 props came with elite analysis.
Most locked in ever been. Best season yet. Next year will be even bigger.
I’ll never forget it. Thank you all. 🖤
@MrLiimited@CorbieBO As someone who’s done pretty good at the primary goal and gotten limited on 2 of the smaller books, I appreciate the challenge of acting like a profitable bettor for the books. Nothing better than getting deposit bonuses after using some of your methods while still profiting
@CorbieBO@MrLiimited Appreciate the response! Very good content and article. So interesting that the primary goal is not getting limited rather than making money. Not getting limited will provide for more money in the long run.