Online Gambling Estimates Large From Joint Committee On Taxation

Representative Barney Frank has been saying it all along. Internet gambling regulations in the US would bring billions to the government to help with some of the spending that is taking place in Washington these days.

On Thursday, Representative Jim McDermott released analysis from the Joint Committee on Taxation that backed up Frank and other online gambling proponents' claim. The analysis was that the US would generate nearly $42 billion within ten years of regulating Internet gambling.

"This analysis further reinforces the fact that a regulated environment will generate billions in new revenue to offset the costs of health care reform or other vital government programs," said Michael Waxman, Spokesman for the Safe and secure Internet Gambling Initiative.

Waxman believes what many opponents of regulated Internet gambling in the US are concerned about, that support is growing for regulated online gambling. Representative Frank has introduced legislation, and already has sixty-two co-sponsors for his Bill.

"With the completed analysis, and support for Internet gambling regulation growing daily, it's only a matter of time before Congress acts and begins allocating the billions in new revenue sitting on the table to one program or another," said Waxman.

Frank is preparing to have the issue discussed in Congress, and some believe that he will have his Bill passed by his House Committee before the end of the year. That has some politicians squirming to come up with a plan of attack against the legislation.

October 29, 2009
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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