119-HR4630
WAGER Act of 2025
Last action was on 7-23-2025
SenateCurrent status is Referred to the House Committee on Ways and Means.
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119th CONGRESS
1st Session
H. R. 4630
1. Short title2. Limitation on wagering losses1. Short title
This Act may be cited as the "Winnings And Gains Expense Restoration Act of 2025" or the "WAGER Act of 2025".
2. Limitation on wagering losses
(a) In general - Section 165(d)(1) of the Internal Revenue Code of 1986 (as amended by the Act entitled "an Act to provide for reconciliation pursuant to title II of H. Con. Res. 14." (119th Congress)) is amended by striking "for any taxable year" and all that follows through "shall be allowed" and inserting "for any taxable year shall be allowed".
(b) Effective date - The amendment made by this section shall apply to taxable years beginning after December 31, 2025.