Barney Frank's Bill on Fast Track

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Barney Frank's bill, HR 2267, was heard by the House Financial Services Committee on Wednesday July 21. Thereafter the online gaming industry was divided into two groups. The optimists in the industry believed that the bill would be scheduled for a mark up and vote sometime in August 2010. The pessimists believed that the mark up on HR 2267 would happen only after the mid term elections in November. As it happened, both predictions have been proved incorrect.

On Friday July 23, the House Financial Services Committee notified that HR 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act, will be marked-up on Tuesday, July 27. The announcement read "House Financial Services Committee Chairman Barney Frank today announced the committee meet in open session on Tuesday, July 27, 2010, (and subsequent days if necessary) at 10 a.m. in room 2128 Rayburn House Office Building to consider the following measures: …". In all seven bills have been scheduled for mark up and that is the reason for meeting on subsequent days if necessary. However HR 2267 is third on the list and it should be settled on Tuesday itself.

The Safe and Secure Internet Gambling Initiative spokesman Michael Waxman pointed out the rationale for this quick decision. He said that Chairman Barney Frank wanted to get this bill advanced before Congress breaks for summer vacations. He added, "Most importantly, the mark up shows a commitment by Chairman Frank to move forward and his colleagues to address this issue." This is the first set of mark ups to be placed before the Committee since May 2010. Clearly the passing of the Finance Bill earlier this month has cleared the decks for other legislations to be moved ahead.

Earlier in the July 21 hearing poker professional Annie Duke put forward a powerful statement on why online gambling should be legalized and regulated in the United States. The most important aspect of HR 2267 is that it corrects the violation of individual freedom that was imposed by the UIGEA. She argued that this freedom for adult Americans to gamble online from the privacy of their homes was not coming at the cost of minor children who would be tempted to gamble or at the cost of pathological gamblers who would lead themselves and their families to ruin. Technology and institutions were available to ensure that the vulnerable sections of society were protected. In fact this protection would be stronger if online gambling were regulated by the government. Annie Duke also pointed out that Americans are gambling online despite the UIGEA. They would much rather gamble at sites licensed in the United States that operate under United States laws. This would ensure greater adherence to social responsibility and give greater confidence to online players.

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