[Congressional Record Volume 171, Number 120 (Monday, July 14, 2025)]
[House]
[Page H3234]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               BRINGING FAIRNESS BACK TO GAMING TAXATION

  (Ms. TITUS asked and was given permission to address the House for 1 
minute and to revise and extend her remarks.)
  Ms. TITUS. Mr. Speaker, I rise to urge passage of my FAIR BET Act. 
The Republican's Triple B overturned a half-century tax provision that 
allowed gamblers to deduct 100 percent of their losses from their 
winnings. Accordingly, because that has been eliminated, gamblers now 
will be required to pay taxes on money they haven't earned.
  My FAIR BET Act would undo the Senate mistake by keeping the 100 
percent loss policy in place. This will ensure that gamblers don't have 
to pay taxes on phantom income and are not lured to offshore and 
unregulated markets.
  My legislation has bipartisan support because Members on both sides 
understand that this is not ideological. It is just fair, good tax 
policy.
  Mr. Speaker, I urge everyone to bet on the come, and pass the FAIR 
BET Act.

                          ____________________