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Rep. McDermott's New Internet Gambling Legislation Would Increase Projected Revenue to Up To $72 Billion Over Ten Years
March 25, 2010The Safe and Secure Internet Gambling Initiative applauds Representative Jim McDermott (D-WA) for the planned introduction today of an updated version of the Internet Gambling Regulation and Tax Enforcement Act of 2010, which would ensure that taxes and fees are collected from wagers placed over the Internet in order to raise much-needed revenue for federal and state budgets. The most significant change from earlier versions of the legislation is a provision that allows each State and Tribal Government to be paid six percent of all deposits placed in their jurisdiction with online gambling operators. Full release.