A Call for Fairness: Congressmen Horsford and Lee Push to Restore Full Gaming Loss Deductions

You know, sometimes the tax code just feels a bit… lopsided, doesn’t it? Especially when it comes to something as common as enjoying a bit of responsible gaming. Well, Congressmen Steven Horsford and Susie Lee, both hailing from Nevada, are certainly feeling that way. They’ve recently stepped up, introducing a really significant piece of legislation aimed squarely at bringing a dose of much-needed fairness back into the federal tax system: the Gaming Accountability and Responsible Deductions (GARD) Act.

What’s the big deal, you ask? Right now, if you're a recreational gambler – you know, someone who enjoys a casual trip to the casino, perhaps on vacation – you can only deduct your gambling losses up to the amount of your winnings. On the surface, that might sound okay. But here’s the rub: if you’re a professional gambler, someone who makes a living from it, you get to deduct all your losses without limitation. See the imbalance? It creates a system where a professional can always offset their income, but a regular person, especially one who might not even itemize deductions, is left without the same relief.

This isn't just about big spenders; it disproportionately hits those with lower incomes. Imagine someone who might win a little, lose a little, and over the year, still ends up down. Under current law, they might not be able to claim any of those losses, even if they could technically offset their winnings. It’s a policy that, frankly, seems to penalize the everyday person while giving a pass to those who play the tables professionally.

For states like Nevada, where gaming and tourism are the lifeblood, this isn’t just an abstract tax issue; it’s economic reality. Congresswoman Lee put it quite plainly, emphasizing that this legislation is crucial for supporting Nevada’s working families and its vital tourism economy. When visitors feel the tax system is stacked against them, it can certainly impact their willingness to engage with the industry. And let’s be honest, gaming isn't just about casinos; it supports countless jobs, from hospitality to entertainment, right across the state.

This isn't a new problem that just popped up. The full deduction for gaming losses was actually taken away back in 1986. Yes, that far back! It means for decades, recreational gamblers have been operating under this restrictive rule. The GARD Act, championed by Horsford and Lee, seeks to restore that full, unlimited deduction. The idea is simple: if you incur a loss while gambling, you should be able to deduct it, plain and simple, without that arbitrary cap tied to your winnings for the year.

It's not just about tax breaks; it's about common sense. As Congressman Horsford highlighted, this bill aims to correct an "antiquated provision" in the federal tax code that unfairly impacts hardworking Americans. He framed it as a measure that supports both fairness for individuals and the economic health of states like Nevada, which rely so heavily on the gaming sector.

Beyond the economic and fairness arguments, there’s also an important link to responsible gaming. When individuals are treated more fairly by the tax system, it can subtly encourage a healthier relationship with gambling. Knowing that losses aren't completely disregarded for tax purposes, particularly when one has winnings, adds a layer of acknowledgment to the financial reality of gaming. It’s part of a broader push to ensure that while gaming is an enjoyable pastime, it's also approached responsibly, both by individuals and by the systems governing it.

So, the GARD Act isn't just a technical adjustment; it's a statement. It’s about recognizing the realities of recreational gambling, supporting key state economies, and, ultimately, ensuring that our federal tax code is built on principles of equity, not arbitrary distinctions. Both Congressmen Horsford and Lee are clearly passionate about seeing this through, and frankly, it feels like a long-overdue change that many would welcome.