WAGER Act of 2025

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4630 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 4630

  To amend the Internal Revenue Code of 1986 to restore wagering loss 
                           limitation rules.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 23, 2025

   Mr. Barr introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to restore wagering loss 
                           limitation rules.

    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 ``Winnings And Gains Expense 
Restoration Act of 2025'' or the ``WAGER Act of 2025''.

SEC. 2. LIMITATION ON WAGERING LOSSES.

    (a) In General.--Section 165(d)(1) of the Internal Revenue Code of 
1986 (as amended by the Act entitled ``an Act to provide for 
reconciliation pursuant to title II of H. Con. Res. 14.'' (119th 
Congress)) is amended by striking ``for any taxable year'' and all that 
follows through ``shall be allowed'' and inserting ``for any taxable 
year shall be allowed''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2025.
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