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Article: Joint Committee on Taxation Projects Internet Gambling Regulation Would Generate Nearly $42 Billion in New Revenue.
- Article from:
- Politics & Government Week
- Article date:
- November 12, 2009
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As Congress considers how to pay for health care reform and other critical programs, a Joint Committee on Taxation analysis released by Rep. Jim McDermott (D-WA) found that regulating Internet gambling, as proposed in pending legislation introduced by Representatives Barney Frank (D-MA) and Jim McDermott (D-WA), would generate nearly $42 billion over 10 years. The analysis is based on the provision of a federal license for operators that would allow them to offer online gambling throughout the United States, while maintaining existing federal prohibitions on any form of sports betting.
"This analysis further reinforces the fact that a regulated environment will ...