Barney Frank’s bills to help overturn the Unlawful Internet Gambling Enforcement Act are currently moving through congress. Legislatures are trying to prevent the UIGEA coming into fruition on December 1st by calling for a delay. A delay would allow the issues, including Frank’s bills to be further discusses. However two GOP members are opposed to the delay.

The two opposed to the delay are Spencer Bachus a representative of Alabama and Jon Kyl a senator of Arizona. Both have written a letter to the Secretary of Treasury and the Chairman of the Federal Reserve Board. The letters were written to inform them of their objection to the proposed twelve month deadline extension.

Both began the letter with the following statement: "It has come to our attention that three associations representing the gambling industry recently submitted a request that the Treasury Department and Federal Reserve delay the compliance date of the Final Rule implementing the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) by an additional 12 months. We are also aware that 19 out of 71 Members of the House Financial Services Committee sent a letter to you in support of this request. We strongly oppose this request and believe that there is no justification for delaying the compliance deadline of the UIGEA regulations.”

The two republican’s claim there is no justification for the delay but supporters of Frank’s bills have found that the taxation and regulation of online gambling would be highly profitable for the United States.




- 2009-11-09