I
119th CONGRESS
1st Session
H. R. 4630
IN THE HOUSE OF REPRESENTATIVES
July 23, 2025
Mr. Barr introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to restore wagering loss limitation rules.
Section 1. Short title
This Act may be cited as the Winnings And Gains Expense Restoration Act of 2025
or the WAGER Act of 2025
.
Sec. 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.