Posts Tagged ‘barney frank’

US House Committee Passes Barney Frank’s HR 2267 Act

Friday, July 30th, 2010

Online poker players all over the United States are celebrating, as Barney Frank’s HR 2267 legislation, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act passed the House Financial Services Committee on Wednesday. If the act becomes a law, Internet gambling operators will be licensed and authorized, legalizing online betting in the United States.

The Act was passed by a margin of 41-22 in the House Financial Services Committee. In order to become a law, the act still must pass through the full House as well as the Senate. In addition to authorizing gambling operators to accept bets and wagers online from US players, the act also contains provisions preventing minors from gambling on the web, prohibits ads targeted towards gambling addicts, prevents the use of credit deposits, and other gambling safety provisions.

Alfonso D’Amato, chairman of the Poker Players Alliance, responded to the passing of the act saying, “The fact is, online poker is not going away. Congress has a choice-it can license and regulate it to provide government oversight and consumer protections, or our lawmakers can stick their heads in the sand, ignore it, and leave consumers to play on non-US regulated websites in all 50 states. I’m glad the Financial Services Committee today overwhelmingly chose to act and protect Americans as well as preserve the fundamental freedoms of adults and the Internet.”

This is the first step towards a better future for online poker, but isn’t the end. We still have to wait and see if the act is passed through the full house and Senate. I’ll be keeping my fingers crossed!

Internet Gambling Regulation and Tax Enforcement Act Back on the Scene

Wednesday, March 31st, 2010

For those of you who are following the introduction of various online poker and Internet gambling legslation in Congress, Representative Jim McDermott’s Internet Gambling Regulation and Tax Enforcement Act was reintroduced last week.

This act serves as a companion to Barney Frank’s bill to overturn the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006. The UIGEA has not outlawed online poker or gambling. However, it puts strict regulations on banks, credit card companies and online payment services, which has caused a lot of problems for online poker players in the United States.

Barney Frank’s bill has set guidelines for licensing and regulation of the online gambling industry, suggesting that online gambling operators will be required to collect certain fees and pay certain taxes. The Internet Gambling Regulation and Tax Enforcement Act states what those fees and taxes will be. The new version, which was introduced last week, establishes not only a federal license fee but a state license fee as well. Additionally, it states that 25% of federal revenue gleaned from online gambling will go towards foster care programs, which is an issue that McDermott strongly supports.

McDermott hopes to gain more support for this bill after Frank’s bill is marked up in the coming months by the House Financial Services Committee. If these bills are passed, it should make things much easier for online poker players in the United States.

Are More Senators Jumping on the Online Poker Bandwagon?

Wednesday, February 24th, 2010

It’s no surprise that House Representative Barney Frank of Massachusetts supports online poker, with his very public work to overturn the Unlawful Internet Gambling Enforcement Act (UIGEA) over the past couple of years. By the same token, other congressmen such as New Jersey Senator Robert Menendez have also publicly supporting online gambling. However, in recent months more and more political figures are coming out of the woodwork to support the licensing and regulation of online poker.

Nevada Senator Harry Reid, a democrat, first hinted at his possible support of regulating online gambling sites when he sent a letter asking for the delay of the UIGEA in 2006. Poker Players Alliance (PPA) executive director, John Pappas, says that while he isn’t one hundred percent sure that Reid has come around on the issue, he believes that “[Reid] recognizes that there’s some serious failures in the UIGEA.” The PPA finds the fact that Reid sent this letter very encouraging.

In fact, the PPA has been so encouraged by Senator Reid that they are supporting him in his campaign for reelection. However, Senator Reid has not yet come out and said that he would support licensing of online casinos in the United States, in part because he needs to watch out for the live casino industry, which thrives in Nevada, the home of Las Vegas.

Though Reid is not yet a sure thing, he is expected to become a supporter and other congressmen are expected to follow suit.