@tomatheist I don't think gaining muscle helps much with fat loss, however, in this particular case, gaining chest muscle might help you more.
Chest is my genetic gift, it grows a lot and I'm thankful for that. The best part however, is not the look of my chest, but simply the fact that my chest now sticks out further than my belly. This means shirts hang straight down from my chest, and most of the time my spare tire is mostly hidden.
In addition to overall fat loss, really work on your chest.. thicc pecs will hide a certain level of spare tire.
I'd advise working your way up to 20 sets of chest lifts per week, emphasizing a deeeeep stretch at the bottom of the movements (dumbell bench press works great for that). Good luck bud.