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Bipartisan push to restore full wagering‑loss deduction pressed in Rules Committee
Summary
Representatives urged fixing a Senate change that reduced the wagering loss deduction to 90% by restoring a 100% deduction, arguing the current cut harms workers and the regulated gaming and tourism economy and could push activity offshore.
Several members including Reps. Stephen Horsford and Max Miller urged the Rules Committee to allow an amendment that would restore the longstanding 100% deduction for wagering losses that had been reduced to 90% in a Senate amendment to H.R. 1. Horsford and Miller said the change is unfair to gaming patrons and workers and risks driving economic activity overseas.
Horsford described the change as creating uncertainty for Nevada’s regulated gaming industry and said the House Act (a standalone bill) would correct the provision to reflect "economic reality," letting taxpayers deduct losses to the extent of gambling gains. The speakers characterized the fix as bipartisan and noncontroversial and asked that the amendment be made in order for floor consideration.
