Geithner Agrees To No More Delays For Online Gambling Laws In US

The Obama Administration has had trouble with some of their appointments to positions of power after Republicans have placed holds on the appointees. That has caused a ripple down effect that now stretches into the debate over online gambling.

Treasury Secretary Timothy Geithner granted a delay to the implementation of the Unlawful Internet Gambling Enforcement Act last December. That decision caused Senate Minority Whip Jon Kyl to place holds on a half dozen appointees.

The Washington Post is reporting, however, that a meeting took place between Kyl and Geithner last month in which Geithner promised to not delay the UIGEA again. In exchange, Kyl released the holds on the six appointees.

That places much pressure on Representative Barney Frank and the dozens of other US lawmakers that are pushing for the UIGEA to be overturned. Although Frank has already introduced legislation to overturn the UIGEA, the House Finance Committee that Frank chairs has not yet marked up the Bill.

The six-month extension was granted at the end of last year, and it is set to expire on June 1st. If Geithner is indeed serious about his promise to Senator Kyl, then that only leaves a couple of months for Frank to push through his proposed legislation.

Financial institutions are ultimately responsible for enforcing the UIGEA when it takes effect, and they have been outspoken about the strain that will put them under.

Frank believes that people in the US should be allowed to spend their entertainment money however they wish. He also understands the billions of dollars in tax revenue that the US is leaving on the table by not regulating Internet gambling.

March 20, 2010
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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