June 25, 2008
HR 5767 Slashed Down at the Kneecaps
Sneaky poker political move falls short in House committee
HR 5767, the poker legislation providing the quickest route to undoing the UIGEA, failed to make it out of committee today. This means anti-UIGEA efforts will likely have to rely on more hard work to rally support behind an unpopular issue than slick process maneuvers for now.
The bill was bare-bones from the start, and the plan was to attach an amendment — the King Amendment (Rep. Peter King - R, NY) — which basically said, “Yo, the banks have to cut off some legal businesses (horse racing) because of this UIGEA thingy and it’s not very effective against the bad guys anyway, so let’s do our banking pals a fave and suspend the whole damn thing while we figure it all out. Cool?”
Sounds like sensible government to me … but apparently some members of the House Financial Services committee were suspicious that sumpin’ was up … and the amendment fell one vote short, 32-32. (It’s a 70-member committee — not sure how it broke down, by party or otherwise, nor who the abstainers/no-shows were.) Without the King Amendment passing by a WIDE margin, the whole strategy behind sneaking pushing a quick bank-fix vote through Congress proper kinda fell apart, so committee chair Rep. Barney Frank decided not to put HR 5767 to a role call vote.
I am pretty sure this effectively kills 5767 … little to no chance it will be resurrected. And I have to say, the results of today’s committee hearing are pretty discouraging. More TK on why, but click below to read the statement from PPA Chairman Alfonse D’Amato, which just came over the transom:










