The big, beautiful bill may have been too big. Buried in the 900-plus-page piece of legislation was a provision that makes it much harder to gamble for a living by limiting deductions to 90 percent, not 100 percent, of losses. Three days after President Trump signed the bill into law, a trio of legislators from both sides of the aisle are backing a bill that would repeal the gambling portion of the big, beautiful bill.
Via FrontOfficeSports.com, representative Dina Titus (D-NV) introduced the FAIR Bet Act on Monday . The law would restore the gambling deduction to 100 percent.
Titus is supported by representatives Ro Khanna (D-CA) and Troy Nehls (R-TX). It’s not a tax break for gamblers. It’s a recognition of the reality that winning is always offset by losses.
If someone wins $100,000 while gambling and loses $100,000 while gambling, nothing has been gained. Under the old law, the income would be zero. Under the big, beautiful bill, the gambler will be regarded as having $10,000 in income.
It’s simply not fair, and it defies common sense. “While I proudly voted for the One Big Beautiful Bill Act, which prevents the largest tax hike in American history, the Senate’s version contained a provision that I strongly disagree with,” Nehls told FrontOfficeSports.com in a statement.
“Prior to the passage of the OBBBA, the tax code contained a 100% deduction for gambling losses and expenses up to the amount of the individual’s winnings. This deduction was not changed i.
