In yet another interesting twist, the Poker Players Alliance has asked Senator Kyl to exempt online poker from the UIGEA Law. While we all know that Senator Kyl is against online casino gambling and that he put a hold on Treasury Confirmation Hearings unless the Treasury Secretary set a date certain for the UIGEA Law to go into effect June 1, the Executive Director of the Poker Players Alliance nonetheless believes Kyl will acquiesce as long as the law is executed.
Meanwhile, in another development, Representative McDermott’s Internet Gambling Regulation and Tax Enforcement Act is a bill that would also legalize and regulate online poker. His bill is a companion bill to Senator Barney Frank’s bill which has garnered much support. Congressman McDermott’s bill calls for a 6% tax on deposits and a 2% Federal tax that would greatly benefit not only the state government, but a portion of the Federal monies would be used for foster care programs. Estimates are that legalizing online poker would raise about $30 billion dollars over 10 years, and the Committee on Taxation believes that online poker would generate $42 billion in new revenue.
As we wait to see how this saga unfolds, we will continue to keep you posted.
Ultimate Bet and Absolute Poker no Longer Available
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