119 HR 4304 IH: Fair Accounting for Income Realized from Betting Earnings Taxation Act U.S. House of Representatives 2025-07-07 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 119th CONGRESS1st 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.