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U.S Senators introduce new online gambling legislation
- 2-24-2010
Senators Ron Wyden
(D-OR) and Judd Gregg (R-NH), have introduced a new legislation bill
titled “Bipartisan Tax Fairness and Simplification Act of 2010â€Â, which
includes several provisions to legalize and regulate online gambling activities in the U.S.
The bill has several provisions to regulate Internet gambling, similar to those included in the Internet Gambling Regulation, Consumer Protection and Enforcement Act (H.R. 2267), introduced in 2009 by House Financial Services Committee Chairman Barney Frank (D-MA). The bill already counts with 65 co-sponsors, including Representatives John Conyers (D-MI), chairman of the Committee of the Judiciary Pete King (R-NY), ranking member of the Homeland Security Committee George Miller (D-CA), chairman of the Committee on Education and Labor.
Senator Wyden previously introduced an amendment in the Senate Finance Committee to use Internet gambling revenue to fund the health care reform. That amendment was not brought to a vote, given the decision by the Committee to limit revenue provisions to matters related to heath care.
A Joint Committee on Taxation analysis found that regulating several online gambling activities such as online poker and casinos would generate nearly $42 billion over 10 years. The analysis is based on the provision of a federal license for operators that would allow them to operate in the U.S., while maintaining the federal prohibitions on any form of sportsbetting.
Discuss this article in our forum
The bill has several provisions to regulate Internet gambling, similar to those included in the Internet Gambling Regulation, Consumer Protection and Enforcement Act (H.R. 2267), introduced in 2009 by House Financial Services Committee Chairman Barney Frank (D-MA). The bill already counts with 65 co-sponsors, including Representatives John Conyers (D-MI), chairman of the Committee of the Judiciary Pete King (R-NY), ranking member of the Homeland Security Committee George Miller (D-CA), chairman of the Committee on Education and Labor.
Senator Wyden previously introduced an amendment in the Senate Finance Committee to use Internet gambling revenue to fund the health care reform. That amendment was not brought to a vote, given the decision by the Committee to limit revenue provisions to matters related to heath care.
A Joint Committee on Taxation analysis found that regulating several online gambling activities such as online poker and casinos would generate nearly $42 billion over 10 years. The analysis is based on the provision of a federal license for operators that would allow them to operate in the U.S., while maintaining the federal prohibitions on any form of sportsbetting.
Discuss this article in our forum