On Wednesday, the House Ways and Means Committee will hear a proposal from Rep. Jim McDermott. His proposed legislation sets up a system to tax internet gambling. This legislation goes hand in hand with Barney Frank’s proposed legislation to overturn UIGEA (the Unlawful Internet Gambling Enforcement Act) and to also set up a system for regulating internet gambling.
Since congress passed UIGEA back in 2006, while it was hidden in the port security bill, many in Congress have been educated on the many benefits the government can have if internet gambling is legalized and regulated. Studies have since shown that the US government would stand to benefit from millions or even billions of dollars in gambling tax revenue.
Of the many ways to increase tax revenue for the government, legalizing and taxing internet gambling comes out on the top of the list.
One of the biggest complaints that opponents of internet gambling throw up against its legalization, is the social problems that would be created and increase, such as underage gambling and problem gambling. Supporters of Barney Frank’s legislation have shown how far the gambling industry itself has grown in protecting the citizenry against just these ills. They have also grown in policing the industry against corruption. Programs are already in place at all major international internet gambling sites to protect against these ills.
With all the changes in Washington in 2006, both politically and socially, this may be the best chance internet online gambling has had to become legalized and regulated. Write, call, cable, email, heck… even send a carrier pigeon if you want, but get hold of your congressional representatives and your US senators and tell them to support Barney Franks and Jim McDermotts bills and let’s get this done.