
Bill would bring Billions in tax revenue and protect consumers.
Robert Menendez, Democratic Senator from New Jersey, took time out from his work trying to help reform our healthcare system, to introduce senate bill S.1597. The goal of this bill is to legislate online poker in the U.S. with the goal of increasing tax revenue and provide protection from less reputable sites. The full text of the bill has been uploaded to scribd. The PPA is undoubtedly excited about this development.
Does this bill have a chance of passing?
A key question. As many know, Barney Frank of Massachusetts, introduced a separate bill to the House of Representatives back in May. That bill did not get the traction that we are all hoping Senator Menendez’s bill will achieve. Perhaps with a worsening recession, a few of the brighter minds on the capitol will open up to the revenue generation possibilities. After all, why shoud all of our rake go to Malta, Gibraltar and the Isle of Man. Can’t we allow Howard and Dolly to run their rooms in piece and pay taxes to Uncle Sam as a bonus to all Americans.
What does this mean for online poker in the U.S?
A bit unclear. Thinking back to the days before UIGEA, it seemed as though the unregulated poker world brought on a boom that filled card rooms with new players. What is unclear to me, is whether loosening restrictions on U.S. online poker will have any effect on brick and mortar poker. It seems the recession would outweigh any effects of a lifting of the UIGEA.
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