What This Bill Does · Plain English
Summary
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Action Timeline
2026-01-08
Referred to the House Committee on Ways and Means.
2026-01-08
Introduced in House
2026-01-08
Introduced in House
Frequently Asked Questions
Did HR.6985 pass?
HR.6985 is still alive. Current stage: COMMITTEE. Pass likelihood: pending.
Who sponsored HR.6985?
HR.6985 was sponsored by Max L. Miller (R-Ohio).
Full Bill Text
119 HR 6985 IH: Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act U.S. House of Representatives 2026-01-08 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 2d Session H. R. 6985 IN THE HOUSE OF REPRESENTATIVES January 8, 2026 Mr. Miller of Ohio (for himself and Mr. Horsford ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to reinstate the rules for wagering losses. 1. Short title This Act may be cited as the Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act . 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 gains from such transactions. For purposes of the preceding sentence, the term losses from wagering transactions includes any deduction otherwise allowable under this chapter incurred in carrying on any wagering transaction. . (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2025.
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