Introduced:
Jul 9, 2025
Policy Area:
Taxation
Congress.gov:
Bill Statistics
2
Actions
3
Cosponsors
0
Summaries
1
Subjects
1
Text Versions
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Full Text
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Latest Action
Jul 9, 2025
Read twice and referred to the Committee on Finance.
Actions (2)
Read twice and referred to the Committee on Finance.
Type: IntroReferral
| Source: Senate
Jul 9, 2025
Introduced in Senate
Type: IntroReferral
| Source: Library of Congress
| Code: 10000
Jul 9, 2025
Subjects (1)
Taxation
(Policy Area)
Cosponsors (3)
(R-TN)
Jul 14, 2025
Jul 14, 2025
(R-TX)
Jul 9, 2025
Jul 9, 2025
(D-NV)
Jul 9, 2025
Jul 9, 2025
Full Bill Text
Length: 1,634 characters
Version: Introduced in Senate
Version Date: Jul 9, 2025
Last Updated: Nov 12, 2025 6:20 AM
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 2230 Introduced in Senate
(IS) ]
<DOC>
119th CONGRESS
1st Session
S. 2230
To amend the Internal Revenue Code of 1986 to reinstate the rules for
wagering losses.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 9, 2025
Ms. Cortez Masto (for herself, Ms. Rosen, and Mr. Cruz) introduced the
following bill; which was read twice and referred to the Committee on
Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to reinstate the rules for
wagering losses.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
[From the U.S. Government Publishing Office]
[S. 2230 Introduced in Senate
(IS) ]
<DOC>
119th CONGRESS
1st Session
S. 2230
To amend the Internal Revenue Code of 1986 to reinstate the rules for
wagering losses.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 9, 2025
Ms. Cortez Masto (for herself, Ms. Rosen, and Mr. Cruz) introduced the
following bill; which was read twice and referred to the Committee on
Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to reinstate the rules for
wagering losses.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1.
This Act may be cited as the ``Facilitating Useful Loss Limitations
to Help Our Unique Service Economy (FULL HOUSE) Act''.
SEC. 2.
(a) In General.--
Section 165
(d) of the Internal Revenue Code of
1986 is amended to read as follows:
``
(d) Wagering Losses.
(d) of the Internal Revenue Code of
1986 is amended to read as follows:
``
(d) Wagering Losses.--Losses from wagering transactions shall be
allowed only to the extent of the gains from such transactions. For
purposes of the preceding sentence, the term `losses from wagering
transactions' includes any deduction otherwise allowable under this
chapter incurred in carrying on any wagering transaction.''.
(b) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2025.
<all>
1986 is amended to read as follows:
``
(d) Wagering Losses.--Losses from wagering transactions shall be
allowed only to the extent of the gains from such transactions. For
purposes of the preceding sentence, the term `losses from wagering
transactions' includes any deduction otherwise allowable under this
chapter incurred in carrying on any wagering transaction.''.
(b) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2025.
<all>