Congress created a 'phantom tax' on imaginary winnings. End the IRS stickup

The Facilitating Useful Loss Limitations to Help Our Unique Service Economy, or FULL HOUSE Act, a bill that would correct an inequitable new gambling provision, has swiftly moved through the House Ways and Means Committee with bipartisan support.

The legislation is designed to restore fair tax deductions of 100% of gambling losses against winnings. The bipartisan bill was introduced in the House by Reps. Steven Horsford (D-NV) and Max Miller (R-OH), and in the Senate by Sens. Catherine Cortez Masto (D-NV.) and Ted Cruz (R-TX). The legislation passed by a 38-5 vote in the House Ways and Means Committee and now awaits consideration by the full House.