Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act
- Stage
- In committee
- Started in
- Senate
- Sponsors
- 9
- Latest action
- Jul 9, 2025
What it does
The bill would amend the Internal Revenue Code to reinstate the rule that wagering losses can only be deducted up to the amount of wagering gains, effectively limiting such deductions to offsetting winnings. It applies to individuals and businesses engaged in wagering activities, requiring that any deduction related to wagering transactions—including otherwise allowable deductions—cannot exceed gains from those transactions. The change would take effect for taxable years beginning after December 31, 2025.
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
Sponsors
Connections
Its sponsors, who gave them money, and who lobbied on it. A gift is not a position on the bill.
The record
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