H.R. 4304: Fair Accounting for Income Realized from Betting Earnings Taxation Act

H.R. 4304 is a federal bill in the 119th Congress. Taxpayers who report gambling winnings currently face a limit where they can only deduct up to ninety percent of their reported winnings in betting losses, meaning some people pay taxes on money they actually lost overall. This bill changes the tax code to… See its sponsors, how members voted, and a plain-English breakdown on PolityLens.