The post FAIR BET Act Gains Bipartisan Boost as Appropriations Chair Tom Cole Signs On appeared first on Vegas Slots Online News.
The decision by US lawmakers to cut the gambling loss tax deduction from 100% to 90% has caused consternation among the professional gambling community. This inclusion as part of President Donald Trump’s One Big Beautiful Bill means that some people will still owe taxes on their gambling despite breaking even or losing money in the calendar year.
the change officially came into effect on January 1, 2026
Attempts to force a U-turn have been unsuccessful to date, which means that the change officially came into effect on January 1, 2026. Nevada Congresswoman Dina Titus has led the charge in seeking a return to the 100% threshold. Her FAIR BET Act is yet to gain significant traction. It has been awaiting a hearing with the House Committee on Ways and Means since July.
However, she shared an update on Thursday that she believes is “exciting news for the gaming community”:
Tom Cole is a high-ranking Republican, which means that the FAIR BET Act now has bipartisan support. This can boost the chances of getting a hearing or serious consideration.
Many people responded to the post thanking Congresswoman Titus for her continued efforts to rectify the issue. She most recently sent a letter to the Chairman of the House Ways and Means Committee on December 11 seeking an expedited hearing on the matter.
The post FAIR BET Act Gains Bipartisan Boost as Appropriations Chair Tom Cole Signs On appeared first on Vegas Slots Online News.
