WAGER Act of 2025
Sponsored By: Representative Barr
Introduced
Summary
Restores full deductibility of wagering losses by striking the phrase in Internal Revenue Code section 165(d)(1) that limited losses to the extent of wagering gains. The WAGER Act of 2025 would allow taxpayers to deduct wagering losses in full for taxable years beginning after December 31, 2025.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Would allow full gambling loss deduction
If enacted, you could deduct gambling losses even if they are more than your gambling winnings. This would start for tax years beginning after December 31, 2025 (the 2026 tax year for most people). It would apply to wagering losses covered by federal tax rules. Your tax savings would depend on your losses and other tax rules that apply to you.
Sponsors & CoSponsors
Sponsor
Barr
KY • R
Cosponsors
Nehls
TX • R
Sponsored 8/1/2025
Rep. McGarvey, Morgan [D-KY-3]
KY • D
Sponsored 10/6/2025
Gray
CA • D
Sponsored 10/17/2025
Rep. Garbarino, Andrew R. [R-NY-2]
NY • R
Sponsored 11/19/2025
Rep. Titus, Dina [D-NV-1]
NV • D
Sponsored 12/17/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov