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PartyT
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 Posted - 07/29/2010 : 01:45:30 AM
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Bill allowing online gambling passes House test
A bill that would license, regulate and essentially condone Internet gambling and, in an unexpected development, ban the use of credit cards to placing online bets -- passed its first congressional test Wednesday.
The House Financial Services Committee voted 41-22 to approve the Internet Gambling Regulation, Consumer Protection and Enforcement Act (H.R. 2267), which moves the bill closer to consideration by the full House of Representatives.
In something of a surprise, the panel also voted in favor of an amendment that prohibits the use of credit cards for making Internet bets.
Rep. Barney Frank, D-Mass., the committee's chairman, the bill's main sponsor and a leading supporter of online gambling, said the provision protects gamblers from getting in way over their heads -- and adding to the already substantial problem of unpaid credit card debts.
"We're saying you cannot make these bets with a credit card," Frank said. "You can do it with a debit card or prepaid arrangements.
By Martin Merzer
http://www.foxbusiness.com/personal-finance/2010/07/28/allowing-online-gambling-passes-house-test/
[B]Online gambling regulations bill approved by House committee[/B]
28 July 2010 Vin Narayanan In a 41-22-1 vote, the House Financial Services Committee approved a bill Wednesday that would license and regulate online gambling in the United States. The decisive vote is a sign of a how far the Democratic Congress..
http://topics.treehugger.com/article/00JBgha3Ze2OQ |
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PartyT
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Posted - 07/29/2010 : 02:39:04 AM
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I like the New York Times Politics
Here is the story
Congress Rethinks Its Ban on Internet Gambling
WASHINGTON — With pressure mounting on the federal government to find new revenues, Congress is considering legalizing, and taxing, an activity it banned just four years ago: Internet gambling.
On Wednesday, the House Financial Services Committee approved a bill that would effectively legalize online poker and other nonsports betting, overturning a 2006 federal ban that critics say merely drove Web-based casinos offshore.
The bill would direct the Treasury Department to license and regulate Internet gambling operations, while a companion measure, pending before another committee, would allow the Internal Revenue Service to tax such businesses. Winnings by individuals would also be taxed, as regular gambling winnings are now. The taxes could yield as much as $42 billion for the government over 10 years, supporters said.
The two measures — which are backed by banks and credit unions but have divided casinos and American Indian tribes — are far from becoming law. A bill to legalize online poker sponsored by Senator Robert Menendez, Democrat of New Jersey, has not yet had a hearing. The Congressional timetable has little spare room before the midterm elections, and the Obama administration has not taken a position.
http://www.nytimes.com/2010/07/29/us/politics/29gamble.html?_r=1
By SEWELL CHAN |
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Bill allowing online gambling passes House test
