Defense Bill Could Potentially Include Titus' FAIR BET Act

The FAIR BET Act, a bill proposed by Congresswoman Dina Titus, has gained significant bipartisan support in the House, with ten co-sponsors. The bill aims to reverse a contentious tax modification from the One Big Beautiful Bill Act (OBBBA), which reduced the percentage of gambling losses people can deduct for taxes from 100% to 90%.

Congresswoman Titus, who co-chairs the Congressional Gaming Caucus, plans to attach the FAIR BET Act to the 2026 National Defense Authorization Act (NDAA). This strategy increases the likelihood that her proposal will become law.

The FAIR BET Act has garnered support not only from Democrats but also Republicans. Rep. Andy Barr from Kentucky introduced a Republican version of the FAIR BET Act, called the WAGER Act, in July. Senator Catherine Cortez Masto from Nevada proposed a similar plan, the FULL HOUSE Act.

The passage of the FAIR BET Act could be a significant win for the gambling world and bettors across the country, particularly in states like Nevada, where gambling forms a significant part of the economy. Critics argue that the strategy of tucking a tax policy shift into a defense bill is an overstep by lawmakers. However, the FAIR BET Act's supporters argue that it is necessary to address the issue promptly.

The American Gaming Association has also criticized the OBBBA rule, stating it sets a bad example by punishing a legal industry that follows strict rules. Executives from MGM Resorts, Caesars, and Wynn Resorts have spoken to lawmakers about the impact of the cap on both players and casinos. They claim it taxes money they never earned.

If the NDAA amendment passes, the FAIR BET Act could be included in the yearly defense package and reach the president's desk. The WAGER Act and the FULL HOUSE Act, which are similar proposals to the FAIR BET Act, are also under consideration.

However, the author of the FULL HOUSE Act, which was introduced in the Senate, is not identified in the available search results. A vote on the NDAA amendment for the FAIR BET Act is expected in the next few weeks.

About 20 years ago, a similar move led to the passage of the Unlawful Internet Gambling Enforcement Act as part of a separate bill. The FAIR BET Act's passage would mark another significant shift in the regulation of gambling in the United States.

The FAIR BET Act's progress serves as a reminder of the ongoing debate about the role of government in regulating the gambling industry and the impact of such regulations on individuals and businesses. As the bill moves forward, it will be interesting to see how this debate unfolds.