The continued battle to revive playing loss deductions has failed as soon as once more. This comes as an modification to invoice H.R.7148, which was shot down in a latest committee listening to.
Consultant Dina Titus, a Democrat from Nevada, urged the change. She has now discovered 25 different legislators from each events to assist the change, however retains being shot down.
On the heart of the problem is that Titus and different lawmakers don’t imagine that taxes should count gambling losses. Because it’s cash that the participant didn’t purchase, it’s argued that it must be 100% deductible when tax season comes round.
Talking on the committee, Titus stated:
“It’s a equity problem. You shouldn’t tax folks on cash that they don’t earn.
It’s ghost cash, it’s not honest, and we are able to repair it. I urge you all to please make this modification so as, and let’s return to the way in which issues have been and must be.”
Playing tax repair simply gained’t stick
Humorous second from @RepMcGovern (D-MA, Rating Member of the Home Guidelines Committee) on restoring 100% deductibility of playing losses (as much as the extent of winnings)
“Your bipartisan modification feels like a no brainer, which in all probability means it gained’t be made so as, I hope I’m… https://t.co/tb0BcKvaCU pic.twitter.com/Wkn53HAdUW
— DataBasedBets (@DataBasedBets) January 21, 2026
Highlighted on X, previously Twitter, Rep. Jim McGovern, a Democrat from Massachusetts, stated:
“Your bipartisan modification feels like a no brainer, which in all probability means it gained’t be made so as. I hope I’m unsuitable on that… it simply appears to be frequent sense.”
The tactic to attempt to get it via this time was to connect it to a bigger invoice.
It was famous that throughout the listening to, no “direct feedback” have been made by Republicans current. It must also be famous that some Republicans weren’t current as a part of the testimony for the listening to, because it closely centered on ICE and the Division of Homeland Safety.
The Trump Administration’s change to how taxes and playing are dealt with now leaves gamblers with a 90% cap on deductibles. Regardless of months of pushback via 2025 and now into 2026, it appears as if the cap will stay going ahead.
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