More Support For Regulation

May 24, 2008

Rep. Barney Frank�s bill seems to get more and more popular every day with other legislators feeling the desire to jump on board. In true political sense, as a bill gets more popular, such as the online gambling ban bill, the more people will sign on.

It was just mere months ago that Frank had barely any supporters for his online gambling regulation bill, and now it seems people are jumping on the bandwagon faster than you can say repeal. As it has become more apparent that the American public wants online gambling legal, legislators have realized that if they want to keep their jobs they had better start supporting Frank�s bill.

Frank�s bill would regulate the online gambling industry while taxing them for a source of revenue. It would also protect their citizens from unscrupulous operators. The bill would also keep the Federal Reserve and the Treasury Department from enforcing the UIGEA.

Now five more representatives have signed on to join the other eleven co-sponsors � which has given them a huge boost in support. Joe Baca of California, Russ Carnahan of Missouri, Michael Capuano of Massachusetts, Charles Gonzalez of Texas, and Ed Perlmutter of Colorado all signed on to support the bill.

Each of the new supporters say that they just want to see the injustice of the UIGEA undone by removing the bill and regulating online gambling instead. The Financial Services Committee has heard from several groups concerning the efficacy of the UIGEA and with the added benefit of the confusion reported by bankers the bill has gotten even stronger in its attempts to be passed.





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