11 Oct. 09 ~ Rep. Larson Signs On As Co-Sponsor For Frank Online Gambling Bill
Representative Barney Frank is slowly moving towards his goal of overturning the Unlawful Internet Gambling Enforcement Act. On Thursday, Representative John B. Larson became the sixty-first co-sponsor of new online gambling legislation.
Larson is the latest in a growing list of lawmakers that is buying into the idea of Internet gambling reform in the US. The UIGEA has been a big disappointment to this point, and Rep. Frank wants it overturned before it can do more harm.
Rep. Larson Signs On As Co-Sponsor For Frank Online Gambling Bill
Already, financial institutions have expressed their concerns about their ability to adhere to the new law, and that was before the economic crisis in the US was in full swing. The rules for the UIGEA will go into effect on December 1st, but Frank and other lawmakers are attempting to have that date pushed back.
“It would be ill-advised of Congress to allow these rules to take effect,” said CGW Analyst Bob Brice, “With many countries, including the US, looking to change their Internet gambling laws, these rules for the UIGEA would only make the process more turbulent.”
France, Italy, and Spain have all changed their approach to online gambling in order to come into compliance with EU laws. The US has been given a grace period to do the same before the European Commission takes their case against the US to the World Trade Organization.
Senator Robert Menendez from New jersey has introduced separate legislation in the Senate that would legalize online poker. Lawmakers in the state of California are also looking into legalizing Internet poker in their state.