Wyden and Gregg
Introduce New Online Gambling Legislation
February
25, 2010
The Senate seems to have a bill of their own in reference to online
gambling. Two Senators - Ron Wyden and Judd Gregg - have
introduced a bill that would make online gambling legal. The nice thing
about this bill is that Wyden is a Democrat and Gregg is a Republican.
The two Senators sat down and worked out a compromise that they felt
that they could both live with coming from two different sides of the
same coin. It is truly a bi-partisan online gambling bill.
It is called the Bipartisan Tax Fairness and Simplification Act, or S
3018. It covers a variety of topics, but it looks to make online
gambling taxed and regulated in the United States. The Safe and Secure
Internet Gambling Initiative said that they felt that this was a great
bill. They also said that there is a lot of time spent talking about the
differences in the two sides of the aisle and that they need to show
that both sides wan to see online gambling legalized and regulated in a
way that will bring in billions in revenue for the United States while
protecting the consumer at the same time.
The online gambling bill would give tax breaks to American citizens,
eliminate the Alternative Minimum Tax and reduce the individual tax
brackets from six to three. The standard tax break would be doubled, and
citizens would be able to file a simple 1040 or have the Internal
Revenue Service prepare a form for them that they would sign and send
back.
This online gambling bill could make not only tax filing much simpler
for the majority of Americans, but it could also make them much happier
as they would not be paying as much in taxes as online gambling would be
supplementing the rest.
