On Wednesday, May 19th at 10:00am ET, the House Ways and Means Committee will hold a hearing to discuss tax proposals related to legalizing and regulating the internet gambling industry in the United States. The proceedings will be held in Room 1100 of the Longworth House Office Building. Check out the details of the Ways and Means Committee hearing.
Committee Chairman Sander Levin (D-MI) announced the hearing today, one week out from its date. No witness list was available at the time of writing, but organizations that wished to present were asked to submit a written statement. Other witnesses were being invited.
Text found on the Ways and Means Committee website explains the scope of the hearing: “The Committee will discuss the current tax laws and reporting requirements applicable to wagering in the United States. The Committee will consider tax and other proposals in the Committee’s jurisdiction related to legislation pending in the Congress to license and regulate internet gambling activities.”
The advisory for the hearing notes that the financial services industry in the United States must fall into full compliance with the regulations of the Unlawful Internet Gambling Enforcement Act (UIGEA) on June 1st, which is just three weeks away. What the lay of the land will be come June 1st for online gamblers remains to be seen.
One of the pieces of legislation that may be discussed in next Wednesday’s hearing is HR 4976, the Internet Gambling Regulation and Tax Enforcement Act. Congressman Jim McDermott (D-WA) brought the bill to life on March 25th and it has since picked up three co-sponsors: Earl Blumenauer (D-OR), Barney Frank (D-MA), and John Larson (D-CT).
Blumenauer and Larson are both members of the Ways and Means Committee. Frank serves as the Chairman of the House Financial Services Committee, which last addressed the internet gambling issue in December. Frank is the author of a measure (HR 2267) to open the internet gambling industry in the United States up to foreign operators and serves as the main champion of the industry on Capitol Hill.
The Ways and Means Committee also includes some of the familiar faces of the pro-internet gambling movement like McDermott and Shelley Berkley (D-NV). Looking forward to the hearing is PPA Kentucky State Director and Board member Rich Muny, who told Poker News Daily, “Judging by the leadership of the Ways and Means Committee, I think we have a good shot. I’m looking forward to a good audience. We’re encouraged every time we have a chance to present our side.”
The PPA was due to distribute a press release around 7:00pm ET on Wednesday night announcing the hearing. Stay tuned to Poker News Daily for the latest from Capitol Hill.
are we just talkin’ about poker? what about the lottery? the places over seas and the money cards like, neteller and others?
This will be about internet gambling in general. The lottery seems to be explicitly legal in the U.S., so it won’t be discussed. Payment processing may be discussed, but I’d expect this hearing to focus almost exclusively on the tax side of internet gambling regulation.