A Sneak Peak at Barney Frank's Proposed Online Gambling Law 7 May, 2009, Milton Shaw, Staff writer
After months promising new online gambling legislation, Barney Frank finally revealed his new law yesterday, and fielded questions regarding the bill at news conference. Frank reiterated his motivation for drafting the Bill. "The government should not interfere with people's liberty unless there is a good reason," "This is, I believe, the single biggest example of an intrusion into the principle that people should be free to do things on the Internet. It's clearly the case that gambling is an activity that can be done offline but not online." Taxes raised from licensed online gambling operators could also generate an additional $50 billion annually for the US Treasury, according to a report by PriceWaterhouseCoopers. Frank, who is chairman of the House Financial Services Committee, said he was yet to speak with either President Obama or House and Senate leaders, but was aiming to push the bill through his committee before Congress breaks in August. Some key provisions of the proposed new legislation include:
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