RSSInternet Gambling Could Become Legal
31 Jul 2010 No Comments
in gambling Tags: barney frank, election season, house financial services committee, massachusetts
Wednesday the House Financial Services Committee approved a bill that could pave the way for the legalization and taxation of American internet non-sports gambling, online casino and poker. In a move inspired by a need to capitalize on creative ways to up federal revenue, the vote in the House on Wednesday July 28th resulted in a 41-22 vote to approve the bill.
Republicans joined the majority of Democrats in passing the measure. while the bill’s passage through the House Financial Services Committee is a big stepping stone, there have yet to be any hearing set up in the house to further pass the bill. Senator Robert Menendez (D, new Jersey) has introduced a bill to legalize online poker, but with a busy midterm election season approaching, it’s unlikely it will come before Congress soon.
The legalization of online gambling has a long history and road ahead. It was just 4 years ago that it was banned all together, by a Republican majority. “People sometimes resort to drastic things when they are strapped for cash,” said Representative Robert W. Goodlatte (R, Virginia). But Representative Barney Frank (D, Massachusetts) says “Some adults will spend their money foolishly, but it is not the purpose of the federal government to prevent them legally from doing it.”
There are still concerns over how or what constitutes the legalization though, and how it will be taxed, regulated and enforced to produce the kind of revenue the federal government is hopeful it can bring in.
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Internet Gambling Could Become Legal
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