New Bill Shoots For Internet Gambling To Fund Job Training

Representative Barney Frank was unsuccessful in his attempt to have the UIGEA overturned with a Bill that was defeated in the House. Now, another Bill has been brought on that would use money from a regulated Internet gambling industry to fund foster care programs and job training.

Representative Jim McDermott yesterday introduced a new Bill aimed at not only regulating the Internet gambling industry, but also taking a potential of $40 billion and putting it to good use in the country.

The Bill would call for the money to be spent on job training in markets where the economy is taking a major toll. The rest of the money would be used for educational assistance for foster care children.

There is already some major support of the Bill, Investing in our Human Resources Act (H.R. 6501), from some top Democratic Congressmen. Reps. John B. Larson, and George Miller are both original co-sponsors of the Bill.

"It is encouraging that Congress is seeking to regulate Internet gambling and put the billions in new revenue to use. We need to change the current path, where the prohibition of Internet gambling allows for billions of dollars to be lost in an underground, uncontrolled marketplace ripe for criminal exploitation," said Jeffrey Sandman, spokesman for the Safe and Secure Internet Gambling Initiative.

Representative McDermott believes that this new Bill could be the way to regulate the Internet gambling industry and put the billions of revenue dollars to work for America. "We have an ideal opportunity to invest billions of dollars in American workers and our struggling economy without increasing the federal deficit. IHRA would utilize a funding stream that would be available should Congress decide to legalize and regulate Internet gambling, which would protect consumers and collect tax revenue that is currently offshore," said McDermott.

July 16, 2008
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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