 Tuesday
Crucial Day for
Online Gambling
On Tuesday June 24,
The US House
Committee on
Financial Services
is to vote to
dissolve the
controversial
Unlawful Internet
Gambling Enforcement
Act of 2006.
Spearheaded by
Congressmen Barney
Frank and Ron Paul,
(H.R.
5767) would
prohibit the
Department of the
Treasury and Federal
Reserve System from
proposing,
prescribing or
implementing any
regulations related
to the current ban
on internet
gambling.
"Congress has
studied this issue
and heard from the
financial services
community and
federal regulators
that the current ban
on internet gambling
is burdensome and
doomed to fail,"
said Jeffrey
Sandman, a spokesman
for the Safe and
Secure Internet
Gambling Initiative.
"Now it is time for
Congress to change
course and find a
way to protect the
millions of
Americans that are
continuing to gamble
online."
Jay Lakin, Co-Owner
and Vice President
of
www.PokerSourceOnline.com
informed
Gambling911.com that
two more co-sponsors
had signed on to
support HR 5767 -
Neil Abercrombie and
Stephen Lynch.
"The bill is up to
20 co-sponsors,"
Lakin said.
A tax revenue
analysis prepared by
PricewaterhouseCoopers
suggests that
taxation of
regulated internet
gambling is expected
to generate between
$8.7bn and $42.8bn
in federal revenues
during its first 10
years.
----
Gambling911.com News
Wire
Originally published
June 23, 2008 11:27
am EST
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