S.2230

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

Introduced·7/9/25

Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act reinstates rules for wagering losses.

The Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act amends the Internal Revenue Code to reinstate rules for wagering losses. Specifically, it allows losses from wagering transactions only to the extent of the gains from such transactions. This change applies to taxable years beginning after December 31, 2025.

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  • Overview
  • Core Provisions
  • Implementation
  • Impact
  • Legal Framework
  • Critical Issues

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Where it stands

Current
Finance Committee
Next
Committee decision

Sponsors

Democratic CaucusRepublican Caucus

History

Jul 9, 2025

Senate

Read twice and referred to the Committee on Finance.