PASSED COMMITTEE: Lee, Horsford Bipartisan Bill to Restore Full Gaming Loss Deduction

WASHINGTON, D.C. – Today, the House Ways and Means Committee handed the FULL HOUSE Act, led by Congresswoman Susie Lee (NV-03) and Congressman Steven Horsford (NV-04). The laws would restore the long-standing rule permitting the total deduction of gaming losses towards winnings. 

“Last summer, Republicans limited the gambling loss deduction in their so-called Big Beautiful Bill to help pay for tax cuts for the wealthy. Meanwhile, our workers and small businesses pay the price. Nevadans have been clear: you shouldn’t pay taxes on money you never earned — that’s exactly why we fought to reverse this harmful provision,” stated Congresswoman Susie Lee. “I’m glad to see our fix pass out of the House Ways and Means Committee and move one step closer to the finish line. Rest assured, we won’t stop fighting until it’s signed into law.”

For many years, the Internal Revenue Code allowed taxpayers to deduct gaming losses as much as the total quantity of winnings. However, a last-minute provision in Republicans’ One Big Beautiful Bill Act decreased that deduction to 90%, forcing individuals to pay taxes on cash they by no means really earned. This change threatens Nevada’s gaming trade, tourism sector, and broader financial exercise. The FULL HOUSE Act restores the unique legislation, permitting losses from wagering transactions to be deducted in full, guaranteeing tax legal responsibility displays precise financial actuality.

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