- Stage
- In committee
- Started in
- House
- Sponsors
- 6
- Latest action
- Jul 23, 2025
What it does
The WAGER Act of 2025 would amend the Internal Revenue Code to restore the ability of taxpayers to deduct gambling losses up to the amount of their gambling winnings as an itemized deduction, reversing a prior limitation that restricted such deductions. The bill affects individuals who itemize deductions and report gambling income and losses on their federal tax returns. It would take effect for taxable years beginning after December 31, 2025, reinstating the pre-existing rule that allows wagering losses to be offset against winnings without additional restrictions.
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)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money.