Today Congressmen Jim McDermott announced a new tax revenue analysis that shows regulated internet gambling would generate between $8.7 billion to $42.8 billion in federal revenues over its first ten years.

Furthermore congressmen McDermott released a letter urging his colleagues to pass his bill, The Internet Gambling Regulation and Tax Enforcement Act, saying “Before us is a tremendous opportunity to protect consumers and recoup billions of dollars that should be collected by the Internal Revenue Service.”

McDermott highlighted his concern over the current law, the Unlawful Internet Gambling Enforcement Act, saying “Instead of this ineffective attempt to prevent adults from gambling over the internet, we need a more sensible approach to protect consumers and ensure that revenues that now flow offshore stay here in the U.S. and are therefore subject to taxation.”

The full letter can be found here: http://www.safeandsecureig.org/media...financeltr.pdf

If you are interested in learning more about this issue and to contact your legislators we encourage you to visit our website, Safe and Secure Internet Gambling Initiative

Jeffrey Sandman
Safe and Secure Internet Gambling Initiative
Safe and Secure Internet Gambling Initiative