Congressmen Horsford and Miller introduce bill to restore full gaming loss deduction

A new bill has been introduced in the United States, with the aim being to restore the long-standing rule allowing gamers to deduct 100 percent of their losses against their winnings.

The H.R. 6985 Bill has been announced by Congressman Steven Horsford and Congressman Max Miller and it has been referred to the House Committee on Ways and Means.

It’s the Internal Revenue Code that has long allowed full gaming loss deductions up to the amount of a player’s winnings, before a provision...