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House members making another push to repeal cap on income tax gaming losses deductions
Congress members Steven Horsford and Max Miller have filed a House of Representatives companion to a Senate bill that might restore players' deductions.
Members of Congress have not yet relented on restoring US citizens' ability to write 100% of their gaming losses up to the amount of their wins off of their annual income taxes. A new bill in the US House of Representatives would replace the current 90% cap on those deductions before taxpayers have to file their 2026 returns.
HR 6985 takes lead on restoring gaming loss deductions
US Reps. Steven Horsford (D-Nev.) and Max Miller (R-Ohio) have filed HR 6985 in an attempt to undo a tax code change from 2025 that limits taxpayers' gaming losses deductions at 90% of their gaming winnings for the year. A social media post from Horsford states that "people shouldn't be taxed on money they never earned and Nevada's tourism economy shouldn't pay the price for a bad policy."
As Horsford alluded to, the current tax code could mean new tax liabilities for players on the best online casino apps in the US. A person who wins $1,000 in gaming over the course of the year would have to report all of that money as income but that same person could only write off up to $900 of what they lost gaming during the year even if they actually lost more.
HR 6985 would restore the previous threshold of 100% of winnings. That bill isn't the first or only proposal in Congress seeking to affect this change.
FULL HOUSE Act on the Senate docket as well
Horsford's and Miller's bill is a companion to the FULL HOUSE Act in the US Senate, which has four sponsors. That group of sponsors is evenly split between Democrats and Republicans.
Rep. Dina Titus (D-Nev.) has also proposed her own repeal of the 2025 change. Titus attempted to attach the legislation to the current defense budget bill, but the House Rules Committee rejected that motion.
Titus has vowed to continue to push her bill as a standalone piece of legislation. Several members of Congress from both parties have pledged their support for Titus' proposal.
Regardless of which piece of legislation advances, players who use the Golden Nugget Casino promo code and other bonuses would benefit. The previous threshold of 100% of winnings had been in place for decades.
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So far, none of these pieces of legislation have moved, though. Bipartisan support for the bills could need to grow over the next few months.
