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Online gambling tax money to be used to aid foster children


Gambling Tax

Representative Jim McDermott is making things a little exciting in the world of online gambling. He has updated the legislation which he had proposed back in 2009. This legislation would take online gambling take money which came from the United States and in turn use that money for foster care which would aid foster care children located in the United States. This new proposal states that both state and tribal governments would each be able to receive 6% of the taxes which were earned from online gambling. Another thing that triggered this change in the legislation is the need for health care funding.

This legislation could really help

This new bill could really help the situation which plagues the United States when it comes to the budget and the lack of funding that is available. This new bill would give the states the okay to benefit from the taxes produced through online gambling. McDermott said that the main reason for this legislation is so the states would have access to some of the revenue earned through online gambling. Online gambling is currently taking place, but the states are not seeing the money from it. The battle of online gambling began back in 2006 with congress.

What's happened since then?

During the ending part of 2006, Congress approved the Unlawful Internet Gambling Enforcement Act. What this law did was to place the burden to cut out online gambling in the United States on the financial institutions. This change meant that it was up to the financial institutions to deny payments which would go to and from online gambling casinos. These rules were supposed to become effective in December. However, those that opposed the law were able to successfully lobby and have managed to have the rules be delayed for six months. By showing that online gambling could actually be used to help with the current budget crisis, there may be some light at the end of the tunnel for those who run online gambling sites and those who play on them.

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