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] [S. 2230 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 2230 To amend the Internal Revenue Code of 1986 to reinstate the rules for wagering losses. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES July 9, 2025 Ms. Cortez Masto (for herself, Ms. Rosen, and Mr. Cruz) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ 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 g…