U.S. Senators Ted Cruz (R-Texas), Catherine Cortez Masto (D-Nev.), Bill Hagerty (R-Tenn.), and Jacky Rosen (D-Nev.) have introduced the Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act. The bipartisan legislation seeks to allow professional gamblers to deduct 100% of their gambling losses, a return to previous tax law before recent changes.
Senator Cruz said, “The FULL HOUSE Act would restore the previous law and ensure professional gamblers are taxed on what they actually earn, not phantom income. This is a matter of basic fairness and integrity. I’m grateful for the bipartisan support of my colleagues, Senators Catherine Cortez Masto, Jacky Rosen, and Bill Hagerty, and I urge my fellow Senators to support this fix.”
Senator Cortez Masto commented, “Taxing people on money they don’t have will stifle the tourism industry in states like Nevada, push poker tournaments offshore, and drive betting into underground, unregulated markets. There is bipartisan support to fix this mistake, and it is time for my colleagues in both parties and chambers of Congress to get it done.”
Senator Rosen added, “Our bipartisan bill fixes a harmful provision included in the ‘One Big Beautiful Bill’ that taxes casino players who lose money. It’s not just bad math, it’s bad policy. If we don’t fix this misguided provision, people would be discouraged from visiting casinos and Nevada’s tourism economy would take a hit. I’m glad to see bipartisan agreement to fix this mistake.”
The “One Big Beautiful Bill” had reduced the amount itemizing taxpayers could deduct for gambling losses from 100% of winnings down to 90%. The FULL HOUSE Act aims to reverse this change for professional gamblers.
In recent elections, Senator Ted Cruz has maintained his seat by defeating various challengers: Colin Allred in 2024 with 53.1% of the vote; Beto O’Rourke in 2018 with 50.9%; and Paul Sadler in 2012 with 56.5%.
The full text of the bill can be read here.
