Testifying before the House Rules Committee on Wednesday,
Nevada Congresswoman Dina Titus
was yet again seeking to convince Congress to restore the federal tax deduction on gambling losses to 100%.
Last year’s passage of the so-called One Big Beautiful Bill reduced the maximum allowable tax deduction to 90%. Titus has been fighting, without success, to get the deduction restored to its previous 100% standard ever since.
“I'm here this afternoon just to advocate for an amendment that I introduced as a bill last July and has been gaining bipartisan support ever since,” Titus testified. “It's got about 25 members from both sides of the aisle.”
Under the old setup, if a bettor won $100,000 gambling over the course of a year, but also lost $100,000 gambling during the same year, the system allowed them to deduct the $100,000 in losses from their $100,000 in winnings. They would break even.
“It was a common-sense policy,” Titus said. “It was fair.”
Under the new limit, the same bettor who wins $100,000 but loses $100,000 in the same year is only able to claim $90,000 in gambling losses. They wind up paying taxes on $10,000 that they don’t have.
“You just shouldn't tax people on money that they don't earn,” Titus said. “This is ghost money.
“It's not fair, and we can fix it.”
The new taxation system will drive players to wager through offshore accounts
Titus went on to explain why this change is bad news, not only for gamblers but also for the gambling industry.
“Beyond being unfair, it's going to push people to gamble offshore or in unregulated markets,” Titus said. “Consumer protections are nonexistent there. Transparency is weaker.
“This is the opposite of what responsible gaming should encourage.”
Titus went on to point out that all but two US states now operate some form of legal and regulated gambling.
“This is not a Las Vegas problem,” Titus said. “This is a widespread issue. You know, if you think about gaming as Las Vegas or Atlantic City or on a few Indian reservations, you're mistaken because it's now present in 48 states and the District of Columbia.
“Also, the gaming industry that is regulated supports 1.8 million jobs, $104 billion in wages and salaries, and 53 billion in tax revenue for state and local governments. A lot of that will be lost if people go offshore.”
Finally, Titus noted that the change to the gambling tax was slipped in as a rider on the One Big Beautiful Bill. She requests that a similar amendment be added to an upcoming House Bill to restore the 100% tax deduction on gambling losses.
“If you ask some people over on the Senate side, will they say, ‘Oh, I didn't even know that was in there. Oh, I don't even know what that means. Where did that come from?’
“Well, here's a chance to fix it. If you restore that long-standing hundred percent deduction, you'll simply return to the law the way it was before, the way it was understood, the way it was practiced for many years.”
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