H.R. 4304

Fair Accounting for Income Realized from Betting Earnings Taxation Act

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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.