Sens. Cruz and Cortez Masto introduce bipartisan FULL HOUSE Act to restore gambling loss deductions for professional gamblers.
Quiver AI Summary
U.S. Senators Ted Cruz (R-Texas) and Catherine Cortez Masto (D-Nev.) have introduced the bipartisan FULL HOUSE Act, aimed at restoring professional gamblers' ability to fully deduct their gambling losses. This legislation addresses concerns regarding unfair taxation on "phantom income," with supporters arguing it promotes fairness in taxation.
Sen. Cruz emphasized that the bill aims for "basic fairness and integrity" in how gamblers are taxed. Sen. Cortez Masto warned that taxing on non-existent losses could harm the tourism industry and push gambling activities offshore, advocating for bipartisan action to rectify this issue.
The proposal seeks to reverse specific changes made by the "One Big Beautiful Bill" that limited deductibility of gambling losses, aligning with previous tax laws to support professional gamblers in their economic contributions.
Disclaimer: This is an AI-generated summary of a press release. The model used to summarize this release may make mistakes. See the full release here.
Ted Cruz Net Worth
Quiver Quantitative estimates that Ted Cruz is worth $9.6M, as of July 31st, 2025. This is the 97th highest net worth in Congress, per our live estimates.
Cruz has approximately $5.8M invested in publicly traded assets which Quiver is able to track live.
You can track Ted Cruz's net worth on Quiver Quantitative's politician page for Cruz.
Ted Cruz Bill Proposals
Here are some bills which have recently been proposed by Ted Cruz:
- S.2351: Space Exploration Research Act
- S.2293: A bill to require the President to designate the Muslim Brotherhood as a foreign terrorist organization, to direct the Secretary of State to submit a report to Congress regarding such designation, and for other purposes.
- S.2109: Dyess CDC Addition Design Authorization Act
- S.2105: Dyess Air Base Access Infrastructure Design Act
- S.2080: FLRAA Production Acceleration Act of 2025
- S.2075: Future Long Range Assault Aircraft Medical Evacuation and Special Operations Procurement Act of 2025
You can track bills proposed by Ted Cruz on Quiver Quantitative's politician page for Cruz.
Ted Cruz Fundraising
Ted Cruz recently disclosed $1.4M of fundraising in a Q2 FEC disclosure filed on July 15th, 2025. This was the 25th most from all Q2 reports we have seen this year. 91.3% came from individual donors.
Cruz disclosed $928.5K of spending. This was the 29th most from all Q2 reports we have seen from politicians so far this year.
Cruz disclosed $2.3M of cash on hand at the end of the filing period. This was the 133rd most from all Q2 reports we have seen this year.
You can see the disclosure here, or track Ted Cruz's fundraising on Quiver Quantitative.
