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New Internet Gambling Legislation Would Protect Consumers and Generate Billions in New Revenue
May 6, 2009Representative Barney Frank (D-MA), Chairman of the House Committee on Financial Services, and Representative Jim McDermott (D-WA) today are introducing two new bills that together would regulate Internet gambling and ensure that taxes are collected from wagers placed over the Internet. Chairman Frank also introduced today a separate bill, the Reasonable Prudence in Regulation Act of 2009, which would delay for one year required compliance with the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) regulations, which sought to limit the ability for Americans to gamble online. Full release.