Online Casino Transfer: News - Frank Delays Own Meeting

04/26/2010		Online Casino Style: News Frank Delays Own Meeting
Home History Games News Dictionary		There are few organizations working wholeheartedly for the passage of online gambling in the United States, but one reported this week that a Congressional Hearing had been scheduled for further legislative hearings in the House Committee on Financial Services for mid-April. The announcement was made by the Safe and Secure Internet Gambling Initiative, a group that tends to stay relatively low-profile in these current rough waters surrounding their goal, though the optimism for Barney Frank’s bills has granted some much needed encouragement for SSIGI. Congressman Frank is to be credited with two of the bills that are hot on the table: he’s the drafter of both HR 2266 and HR 2267, named the Reasonable Prudence in Regulation Act and the Internet Gambling Regulation, Consumer Protection and Enforcement Act respectively. The pair were to be scrutinized, alongside HR 4976, the Internet Gambling Regulation and Tax Enforcement Act, written by Congressman Jim McDermott. HR 2266 would extend the effective enforcement date of the existing UIGEA law from June 1st of this year, to June 1st of next year, at the very least giving the industry more time to win over politicians. HR 2267 would overturn the UIGEA, creating a regulatory framework for the legalization of online gambling in the US. The companion bill by McDermott, HR 4976, outlines the taxation benefits to the governments for passing HR 2267, establishing a federal levy of 2 percent for gambling operations, and a state rate of 6 percent. Barney Frank, however, was surprisingly the reason for the said Congressional Hearing to be indefinitely delayed. According to reports, a spokesman from Frank’s office said that due to over scheduling; Frank wouldn’t be able to attend the hearing. Since they are his bills, and because of his position as the Chairman of the Committee, his absence is not something that can be worked with. As of now, the rescheduled date has not yet been set.

04/26/2010

Online Casino Style: News
Frank Delays Own Meeting

There are few organizations working wholeheartedly for the passage of online gambling in the United States, but one reported this week that a Congressional Hearing had been scheduled for further legislative hearings in the House Committee on Financial Services for mid-April. The announcement was made by the Safe and Secure Internet Gambling Initiative, a group that tends to stay relatively low-profile in these current rough waters surrounding their goal, though the optimism for Barney Frank’s bills has granted some much needed encouragement for SSIGI.

Congressman Frank is to be credited with two of the bills that are hot on the table: he’s the drafter of both HR 2266 and HR 2267, named the Reasonable Prudence in Regulation Act and the Internet Gambling Regulation, Consumer Protection and Enforcement Act respectively. The pair were to be scrutinized, alongside HR 4976, the Internet Gambling Regulation and Tax Enforcement Act, written by Congressman Jim McDermott.

HR 2266 would extend the effective enforcement date of the existing UIGEA law from June 1st of this year, to June 1st of next year, at the very least giving the industry more time to win over politicians. HR 2267 would overturn the UIGEA, creating a regulatory framework for the legalization of online gambling in the US. The companion bill by McDermott, HR 4976, outlines the taxation benefits to the governments for passing HR 2267, establishing a federal levy of 2 percent for gambling operations, and a state rate of 6 percent.

Barney Frank, however, was surprisingly the reason for the said Congressional Hearing to be indefinitely delayed. According to reports, a spokesman from Frank’s office said that due to over scheduling; Frank wouldn’t be able to attend the hearing. Since they are his bills, and because of his position as the Chairman of the Committee, his absence is not something that can be worked with. As of now, the rescheduled date has not yet been set.