A new proposal for legalized internet gambling — The Best Online Casino News - TheBestCasinoGuide.com
A U.S. Senator has announced an interesting proposal to help pay the costs of national health care. Senator Ron Wyden of Oregon has introduced an amendment to the U.S. Senate Finance Committee to use tax revenues generated from legalized online gambling to help support the health care reform package.
PricewaterhouseCoopers analysis has shown that legalized gambling would generate over 60 billion dollars in tax revenues over the next ten years and the Safe and Secure Internet Gambling Initiative (SSIGI) has been a strong supporter of the senator’s amendment.
"We applaud Senator Wyden’s proposal to collect and put to good use tens of billions in Internet gambling revenue that would otherwise be lost in the underground marketplace," said SSIGI spokesperson Michael Waxman.
"The Senate Finance Committee should approve the resolution, finally putting to an end a failed prohibition on Internet gambling that leaves Americans unprotected and offshore operators as the only beneficiary in a thriving marketplace."
This amendment goes hand in hand with U.S. Congressman Barney Frank’s bill that was introduced in May, 2009. His bill would establish the regulations under which online gambling would be licensed and taxed. This would allow licensed online gambling establishments to legally take bets from U.S. customers while protecting against fraud, compulsive gambling, money laundering and identity theft.
As the world wide financial crisis becomes deeper and government deficits in the United States pass the trillion dollar mark, more and more legislators are beginning to see the benefits of the tax revenues generated by legalized gambling. It is hoped by the many proponents of the online gambling industry that support for legalized online gambling will continue to grow and lead to the passage and signing of a bill allowing licensed internet gambling.
