Fair Accounting for Income Realized from Betting Earnings Taxation Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4304 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 4304

  To amend the Internal Revenue Code of 1986 with respect to wagering 
                                losses.


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                    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

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                                 A BILL


 
  To amend the Internal Revenue Code of 1986 with respect to wagering 
                                losses.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Fair Accounting for Income Realized 
from Betting Earnings Taxation Act or `FAIR Bet Act'''.

SEC. 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''.
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