Efforts to restore the full 100% tax deduction for gambling losses gained momentum this week after a House committee moved to repeal a key provision from the One Big Beautiful Bill.
The oldest committee of the United States Congress, the Ways and Means Committee is meeting this week on Capitol Hill, where the chief tax-writing body is considering legislation related to digital assets, health care, and tax policy.
The gambling deduction reinstatement has been tacked on to House Resolution 10357, the Digital Asset Tax Certainty Act. On page 95 of the 98-page…