New Casino Bill Introduced In U.S.
For months and months and now a matter of years, Rep. Barney Frank has been struggling and striving to make progress for the future of online casinos in America. He’s been pushing for a bill that would regulate and legalize and tax Internet casino sites that are based within the United States. This would open up the industry to all new level of possibilities in terms of generating revenue that could help put the country back on the right track toward some sort of financial recovery after spending so long in the ditches of this current economic recession. But now there is a new bill that has been introduced within the United States that is quite similar to Frank’s bill and it is called the tax fairness and simplification act of 2010. It has been brought into the fray thanks to the Senators Judd Gregg and Ron Wyden.
While both bills enjoy considerable bipartisan support, to the point where many advocates for online casinos and regulation changes have built up a lot of hope, the success of both bills remains to be seen. The goal with both of these bills to legalize Internet gambling activity so that the government can benefit from the tax revenue that is generated from these changes.
The goal of this recently introduced bill is to minimize the cost and effort when it comes to filing tax returns. As much as $200 billion could be saved if this bill were to be implemented. That is some serious savings if you ask me. This bill is definitely worthy of consideration. While it is still too early to see how the bill will be received, there is hope once again.
online casino laws in u.s.