Political interest in HR 2266 - the Reasonable Prudence in Regulation Act proposed by House Financial Services Committee chairman Barney Frank - is reportedly growing, with 13 Congressmen and women already signed on a co-sponsors.
Launched on May 6th, the proposed legislation seeks to suspend the much delayed and controversial operational regulations supporting the Unlawful Internet Gambling Enforcement Act to December 2010 until more clarity is achieved and the outcome of a further bill proposing to regulate and licence online gambling in the USA is known.
Sponsors for HR2266 so far include:
Shelley Berkley (D-NV), Tim Bishop (D-NY), Joseph Crowley (D-NY), Bob Filner (D-CA), Michael McMahon (D-NY), George Miller (D-CA), Steven Rothman (D-NJ), Bobby Scott (D-VA). Ron Paul (R-TX), Carolyn McCarthy (D-NY), James Moran (D-VA), Charles Rangel (D-NY)
Congressman Frank's main attack on the UIGEA, his HR 2267 Internet Gambling Regulation, Consumer Protection, and Enforcement Act introduced on May 6, has currently signed 26 co-sponsors - early days, but well short of the 43 co-sponsors Frank signed up for his previous and unsuccessful attempt to overthrow the UIGEA.
Industry observers hope that the current HR 2267, which supports the autonomy of individual states, excludes sportsbetting but seeks to legalise and regulate online gambling in the United States, thus rendering the contentious UIGEA largely redundant, will have a better chance of success. This is due to a more enlightened Democrat-controlled Congress and individual states keen to find new sources of tax revenue to combat the recession.
Source: InfoPowa News