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Financial Services Hearing on Regulating Internet Gambling Safe and Secure Internet Gambling Initiative Supports Legislation to Remove Unnecessary Government Prohibition on Internet Gambling The Safe and Secure Internet Gambling Initiative announced its support for the Internet Gambling Regulation and Tax Enforcement Act, introduced today by Congressman Jim McDermott (D-WA). The bill would create a taxation regime for online gambling companies to be licensed under the recently introduced Internet Gambling Regulation and Enforcement Act (H.R. 2046). As Congress works to find funding for critical government programs, Congressman McDermott's legislation is expected to generate between $6 billion and $25 billion in revenues for the U.S. Treasury in the first five years of enactment. Congressman McDermott's legislation functions as a companion bill to the Internet Gambling Regulation and Enforcement Act, which would establish a licensing and enforcement framework for regulated Internet gambling in the U.S. For more information please visit www.safeandsecureig.org. Tags: House Financial Services Committee internet gambling barney frank robert wexler ron paul securetrading online betting