Nevada Representative Titus to Incorporate FAIR BET Act in 2026 U.S. Defense Funding Bill
Nevada Congresswoman Dina Titus to Introduce FAIR BET Act as Amendment to 2026 NDAA
Nevada Rep. Dina Titus has announced that she will introduce the Fair Accounting for Income Realized from Betting Earnings Taxation (FAIR BET) Act as an amendment to the 2026 National Defense Authorization Act (NDAA). The FAIR BET Act was first introduced by Rep. Titus on July 7, 20XX, in the House Ways and Means Committee.
The FAIR BET Act is a response to President Donald Trump's One Big Beautiful Bill Act (OBBBA), which was passed on July 4. The OBBBA includes a provision that allows gamblers to deduct only 90% of losses, rather than the previous 100%.
The FAIR BET Act aims to undo the effects of the wagering loss provision in the OBBBA. If passed, the FAIR BET Act could potentially prevent overall losing bettors from owing tax money at year's end. However, it's important to note that the FAIR BET Act is not directly related to taxes beyond this provision.
The FAIR BET Act is not further specified in the provided context regarding Commercial Casinos, Igaming, Sports Betting, Tribal Gaming, or Legislation beyond being an amendment to the 2026 NDAA.
Rep. Titus will announce the FAIR BET Act on X Wednesday. It remains to be seen how the Act will fare in the committee and whether it will be included in the final version of the 2026 NDAA.
The FAIR BET Act is not related to Ella Gorodetzky in the provided context. Gorodetzky is not mentioned as being directly related to the FAIR BET Act in the provided context.
