Barney Frank's proposal to manage Internet gambling will finally be heard before the home Financial Services Committee this Friday, April 16th. The web gambling bill has waited over a year for attention, as bigger crises have occupied Congressional attention.In November, the Treasury suspended implementation of the UIGEA gaming ban for an additional six months with the intention to allow discussion on Frank's bill. The measure would virtually make the UIGEA moot whether it is passed.
Also at the agenda is a companion bill by Frank officially delaying the beginning of UIGEA rules by a year, designed to present the regulation piece time to work in the course of the legislative process.
Since Frank authored the sweeping legislative reform of gambling law, other lawmakers have offered further measures which might include taxation of online casinos and Internet gambling sites. The Gregg-Dryden tax reform proposal uses potential online gambling revenue in its figures, and Representative Jim McDermott has suggested funding foster maintain children via Internet gaming.
"This hearing will provide further evidence that UIGEA is a poorly-crafted law that simply doesn't work," said Michael Waxman of the Safe and Secure Internet Gambling Initiative. "WE PREDICT this hearing to supply further impetus for the home Financial Services Committee and Congress to deal with this issue and move forward Chairman Frank’s regulatory bill.”
Markup of the 2 bills isn't expected to happen at this hearing. No word was released on when markup may well be expected.
Published on April 10, 2010 by EdBradley
Read More... [Source: UIGEA News]
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