Re: Help me out with the new wagering IRS rules (245 Views)
Posted by: belmont3 (IP Logged)
Date: October 09, 2025 05:15PM

Multiple bills have been introduced to reverse the change:

FAIR BET Act (HR 4304) — introduced by Rep. Dina Titus (D-NV), this bill seeks to restore the full (100%) deduction.
NatP tax Blog
+2
NBC Sports
+2

WAGER Act (HR 4630) — introduced by Rep. Andy Barr (R-KY), this is a Republican-led effort to repeal the 90% cap.
CasinoBeats
+1

FULL HOUSE Act in the Senate (by Sen. Catherine Cortez Masto, D-NV) aims at a similar repeal in the upper chamber.
NBC Sports
+2
NatP tax Blog
+2

These efforts show bipartisan interest in reversing the deduction cut.
NBC Sports
+2
CDC Gaming
+2

However, so far, attempts have been blocked or stalled — for instance, Senator Todd Young (R-IN) objected to a unanimous consent move to overturn the change.
The Nevada Independent
+2
NBC Sports
+2

Additionally, the FAIR BET Act has gained new cosponsors, including both Democrats and Republicans, which suggests growing support.
CDC Gaming

⚠️ Challenges and likelihood

Procedural hurdles: Because the change was part of a large tax/appropriations bill, rolling it back may require going through the same complex legislative processes, which are difficult to navigate.

Revenue impact: The limit is projected to raise about $1.1 billion over 10 years, giving it some fiscal appeal.
NatP tax Blog
+2
The Nevada Independent
+2

Political will: Some lawmakers reportedly weren’t aware the gambling change was included in the larger bill, so awareness and pressure may drive more support.
The Nevada Independent
+1

Timing: The 90% limit doesn’t take effect until 2026, so there is still time for Congress to act before implementation.
NatP tax Blog
+1



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