Barney Frank's proposal to regulate Internet gambling will finally be heard before the House Financial Services Committee this Friday, April 16th. The online 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 another six months in order to allow discussion on Frank's bill. The measure would virtually make the UIGEA moot if it is passed.
Also on the agenda is a companion bill by Frank officially delaying the start of UIGEA rules by a year, designed to give the regulation piece time to work through the legislative process.
Since Frank authored the sweeping legislative reform of gambling law, other lawmakers have offered further measures which would 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 care for children via Internet gaming.
"This hearing will provide further evidence that UIGEA is a poorly-crafted law that simply does not work," said Michael Waxman of the Safe and Secure Internet Gambling Initiative. "We expect this hearing to provide further impetus for the House Financial Services Committee and Congress to address this issue and move forward Chairman Frank’s regulatory bill.”
Markup of the two bills is not expected to take place at this hearing. No word was released on when markup could be expected.
Published on April 10, 2010 by EdBradley
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