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Jim McDermott launches tax bill companion to HR2267
3/26/10 - Washington Democrat Representative Jim McDermott has introduced an updated version of the Internet Gambling Regulation and Tax Enforcement Act of 2010, a bill that would ensure that applicable taxes and fees are collected from a regulated Internet gambling industry in order to raise much-needed revenue for federal and state budgets.
The most significant change from the previous version, introduced in 2009, is the addition of a provision that allows each State and Tribal Government to be paid six percent of all deposits placed by residents of their jurisdiction with licensed online gambling operators - a change that is expected to generate up to $30 billion over 10 years.
Furthermore, the legislation would assign 25 percent of the federal revenue collected on gambling operators - estimated at $42 billion over 10 years - to provide assistance to children in foster care.
According to the political publication The Hill, McDermott favoured the new provisions because "state government budgets have been hit hard by the recession and social services, like children's health insurance, are suffering."
The legislation is meant to serve as a companion to the Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2009 (H.R. 2267), legislation introduced by House Financial Services Committee Chairman Barney Frank that would permit licensed operators to accept online wagers from individuals in the U.S.
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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