Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 6985 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 6985 To amend the Internal Revenue Code of 1986 to reinstate the rules for wagering losses. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 8, 2026 Mr. Miller of Ohio (for himself and Mr. Horsford) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to reinstate the rules for wagering losses. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act''. SEC. 2. REINSTATEMENT OF RULES FOR WAGERING LOSSES. (a) In General.--Section 165(d) of the Internal Revenue Code of 1986 is amended to read as follows: ``(d) Wagering Losses.--Losses from wagering transactions shall be allowed only to the extent of the gains from s…