Legalization of Internet gambling could bring $42 billion for the U.S. Treasury
10-29-2009
A study done by a non-partisan congressional scorekeeper reported that the Joint Committee on Taxation, legalizing Internet gambling in the United States can earn almost $42 billion for the U.S. Treasury throughout the next 10 years.
According to the Wall Street Journal, after estimating legislation designed to bring up online gambling prohibitions and the UIGEA, the Committee came to the conclusion that such an action could produce $41.8 billion throughout ten years.
The legislation, advocated by House Financial Services chairman Congressman Barney Franks and sponsored up to now by 62 Representatives, may assure individual state rights to advocate federal regulation and taxation of Internet gambling or not, and uphold prohibitions on sports betting, but would liberalize other forms of online gambling.
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