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House Proposes Legalizing, Taxing Online Gambling

eldavojohn (898314) writes | more than 4 years ago

Democrats 0

eldavojohn (898314) writes "Passed in 2006, the Unlawful Internet Gambling Enforcement Act is set to go into effect June 1st of this year. New efforts by Democrats in the House of Representatives aims to not only stop that but to legalize and tax internet gambling. Jim McDermott, D-Wash., said 'This is a huge boon to the state governments. If you look across the country you're seeing programs cut. In Arizona, they just cut out a program for children's health for 40,000 kids. Here's a source of money.' Basically the bill proposes that for each state a six percent cut would be taken from all wagers and go to the state in which the bet was made online while federal would get two percent. They estimate in the next decade this would amount to $30 billion for state and tribal governments and $42 billion for the federal government in new taxes. Banks and casinos appear to be very much on board while the usual crowd (Republicans, Focus on the Family, Think of the Children) gathered in to oppose the move."
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