A month-and-a-half ago Barney Frank (D-MA) was prepping us for life with the real UIGEA in fully enforced effect — at a time, no less, when Federal law enforcement was saying “we know who you are Full Tilt, and you better be ready to tell us who Isildur1 is!”
But this upcoming week, Frank’s online gambling bills apparently are moving … on the docket for Friday, April 16, are Full Committee hearings for H.R. 2266, Reasonable Prudence in Regulation Act and H.R. 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act-Governmental Perspectives.
Click here to watch the committee hearing live when it happens.
UPDATE: This hearing has been postponed, without a new date set.
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I may or may not be talking about this morning’s House Financial Services Committee hearing on today’s episode of The Poker Beat … so that’s why I’m up listening/watching/clicking. It’s kinda a big deal, I think … we got our 6-month extension on the enforcement deadline, and now, here in Barney Frank’s committee, the good rep is basically (re-re-re?)-reintroducing legislation that could effectively undo the UIGEA.
Here’s what I’m watching. Follow along if you we can …
* Yikes, video is great – HD! – but audio sucks, like irritatingly buzzy and scratchy.
* Barney’s opening argument … personal freedom. On the internet.
* He quotes John Stewart John Stuart Mill.
* Holy shit, you can pause this video? Like even without Tivo … awesome. I’ll be right back … need to get a beverage …
* OK, I’m back. While I was gone a press release came over the wire … apparently something that will be introduced forthcoming:
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The idea of using online gaming tax revenues to help fund elements of health care reform became part of the Congressional conversation this weekend. On Saturday, Sen. Ron Wyden (D-OR) introduced a possible amendment to the Baucus bill (America’s Healthy Future Act of 2009) that would rely on the passage of Rep. Barney Frank’s HR 2267 to set up a regulatory structure that would provide health care revenue.
According to the Safe and Secure Internet Gambling Initiative, the tens of billions of dollars collected by the U.S. government from online gaming could offset health care costs going forward:
An increased focus on the benefits of Internet gambling regulation are expected as the Senate Finance Committee considers a proposal introduced on Saturday to use Internet gambling revenue to offset the costs of health care reform. The amendment offered by Senator Ron Wyden (D-OR) would dedicate Internet gambling tax revenue generated through implementation of the currently pending Internet Regulation, Consumer Protection and Enforcement Act (H.R. 2267) to increase low-income subsidies provided through the America’s Healthy Future Act of 2009. A PricewaterhouseCoopers analysis shows that collecting taxes on regulated Internet gambling would allow the U.S. to capture up to $62.7 billion over the next decade.
Wyden is a chairman of the Senate Finance subcommittee on International Trade, Customs and Global Competitiveness.
Ding ding! Let the first round of the official debate begin!
U.S. News & World Report provided a forum for representatives of both sides of the issue of legalizing and regulating (and taxing) online gaming. When Rep. Barney Frank introduced H.R. 2267 on May 6, Rep. Spencer Bachus was quick to respond with a blurb about criminals, youth, blah blah. But the U.S. News piece allowed both parties to cool down and present their opinions with some bias thought.
In this corner, we have the winning argument from Frank, with a heavy concentration on the personal freedom aspect of the issue. He also takes the time to counter some of the arguments like the alleged criminal element and the sports betting worries. A few excerpts:
With Gambling, Personal Freedom Is Always the Best Bet, Says Barney Frank
There are many vices in the U.S. Those that hurt others must be stopped. Online gaming need not be.
Posted June 1, 2009
By Barney Frank
Massachusetts Democrat and chairman of the House Financial Services Committee
There is one major reason that leads me to oppose the ban on Internet gambling: It is an activity that adult Americans enjoy and that does no conceivable harm to anybody else…
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