A second bill aimed at repealing the gambling tax change in Trump’s One Big Beautiful Bill (OBBB) will be introduced on Thursday. 

Nevada Democratic Sen. Catherine Cortez Masto is set to introduce the FULL HOUSE Act (Facilitating Useful Loss Limitations to Help Our Unique Service Economy), which will reverse the amendment in Trump’s OBBB that limits the amount of losses gamblers can deduct from their winnings to 90%. 

The FULL HOUSE Act follows the FAIR Bet Act, which was introduced by Rep. Dina Titus in the House earlier this week. 

A spokesperson for Sen. Cortez Masto commented, “Any one senator can object to the bill’s passage, but we’re hopeful it could pass given the bipartisan support for fixing this issue.”

Senators Unaware Of Gambling Tax Amendment

It was revealed that many Senators were not aware of the content of the amendment that introduced the tax limitation on gamblers.  

The Huffington Post reported that Sen. John Cornyn of Texas admitted, “I don’t know anything about it. I’m not sure what it does.”

Similarly, Sen. Chuck Grassley of Iowa revealed in an interview, “If you’re asking me how it got in there, no, I don’t know.”

Senators were under pressure to pass the bill, which Elon Musk has famously called “a disgusting abomination,” before Trump’s deadline of July 4. 

The size of the legislation meant some parts, such as the gambling tax, went unnoticed. 

Sen. Thom Tillis called the gambling tax “bad policy”, but stated, “I was so focused on Medicaid, I wasn’t looking for other reasons to be against the bill.”

FAIR Bet Act and FULL HOUSE Act: The Same, But Different

Both bills would effectively do the same thing and restore the ability of gamblers to deduct all their losses from winnings before paying tax on the profits. 

A spokesperson for Sen. Cortez Masto stated, “It is slightly different than Representative Titus’ language, but does effectively the same thing.”

Rep. Titus posted on X that Cortez Masto’s bill is “just for show”.

There appears to be support for the addition of Cortez Masto’s legislation, however. 

John Pappas, State Advocacy Director at iDevelopment and Economic Association, commented: “It’s great to see support building to reverse this policy.” 

“Nevada lawmakers are consistent champions, but it will be critical to broaden bi-partisan support from lawmakers across the country whose constituents and industries are impacted by this new tax law.”

The American Gaming Association (AGA) has also expressed support for lawmakers reversing the controversial tax change. 

An AGA spokesperson said, “We are committed to working with Congresswoman Titus, other congressional leaders, and the Trump Administration to restore the long-standing tax treatment of gaming losses.”

After the tax change was added to the bill, professional gamblers also spoke out against the legislation, which could change profits into significant losses. 

The reaction to the bills in both chambers will determine whether lawmakers will reinstate the ability of gamblers to fully deduct losses before paying tax. 

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