,,ii  #aaith ,,congress  #ast ,session  
,s4 #bbcj  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #i1      
#bjbe,ms4 ,cortez ,masto 7for herself1  
,ms4 ,rosen1 and ,mr4 ,cruz7 introduced 
the following bill2 which was read twice
 and referred to the ,committee on      
,finance  ,a ,,bill  ,to amend the      
,internal ,revenue ,code of #aihf to    
reinstate the rules for wagering losses4
  #a4 ,short title ,this ,act may be    
cited as the ,facilitating ,useful ,loss
 ,limitations to ,help ,our ,unique     
,service ,economy 7,,full ,,house7 ,act4
  #b4 ,reinstatement of rules for       
wagering losses  7a7 ,in general        
,section #afe7;d7 of the ,internal      
,revenue ,code of #aihf is amended to   
read as follows3  7d7 ,wagering losses  
,losses from wagering transactions shall
 be allowed only to the extent of the   
gains from such transactions4 ,for      
purposes of the preceding sentence1 the 
term losses from wagering transactions  
includes any deduction otherwise        

allowable under this chapter incurred in
 carrying on any wagering transaction4  
4  7b7 ,effective date ,the amendments  
made by this section shall apply to     
taxable years beginning after ,december 
#ca1 #bjbe4