Following the Congressional Hearing on Barney Frank’s HR 2267 on Wednesday, there has been significant advancement in the movement of this bill towards legislation. It was reported several days after the hearing that another Congressional committee session has been slated for this coming Tuesday for a ‘mark up’ of the bill.
A mark up essentially means that the committee ponders the bill before it is voted and moved on to the full House of Representatives. A mark up hearing is also the time for the committee to make any changes it deems necessary in order for the bill to advance further.
Frank’s Internet Gambling Regulation, Consumer Protection and Enforcement Act makes provisions for a regulatory framework within which online poker and gambling operators will need to work. While there will be tough regulations for these operators to follow, including the protection of underage players and problem gamblers, it will nevertheless allow operators to enter the US gambling market in a legal manner. With so many millions of Americans playing online anyway, there is no doubt that this type of framework is needed.
Speaking to the media after hearing the news that HR 2267 had received a mark up date, the spokesperson for the Safe and Secure Internet Gambling Initiative, Michael Waxman said: “This mark up demonstrates that Congress is serious about moving Chairman Frank’s bill forward and establishing a strict regulatory framework for Internet gambling activity.”
“The passage of this legislation would be a win-win as it will protect consumers, create an estimated 32,000 new jobs over five years and provide federal and state governments with as much as $72 billion in new revenues over ten years,” he added.