Fair Accounting for Income Realized from Betting Earnings Taxation Act

Bill: 119-hr-4304
Sponsor: full_name: Rep. Titus, Dina [D-NV-1]
Introduced: 2025-07-07
Policy area: Taxation
Latest action: action_date: 2025-07-07
text: Referred to the House Committee on Ways and Means.

Summaries:

tv_txt: I 119th CONGRESS 1st Session H. R. 4304 IN THE HOUSE OF REPRESENTATIVES July 7, 2025 Ms. Titus (for herself and Mr. Khanna ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 with respect to wagering losses.

1. Short title This Act may be cited as the Fair Accounting for Income Realized from Betting Earnings Taxation Act or FAIR Bet Act . 2. Amendment to wagering loss provision Section 165(d) of the Internal Revenue Code of 1986, as amended, is amended— (1) by striking 90 percent and inserting 100 percent .