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Congressional Hearing is Days Away

Politicians are gearing up for the upcoming Congressional hearing that will directly address the highly controversial online casinos gambling ban in the United States that was passed in late 2006. The Unlawful Internet Gambling Enforcement Act (UIGEA) has caused extensive problems in the U.S. and internationally because of burdens that the Act places on the U.S. banking industries and due to violations of international trade policies. Severe dispute over the proposed regulations that would accompany the online casinos ban are at least in part the reason for the upcoming Congressional hearing.

The hearing will specifically look at the online casinos gambling ban, and is titled: "Proposed UIGEA Regulations: Burden Without Benefit?" This actually precisely sums up the main debate surrounding the UIGEA – even with the ban in place there are many who argue that it is virtually impossible to put a complete end to online casinos gambling and given that fact, the extreme burden to the U.S. banking and financial industries seems unnecessary.

Congressman Barney Frank is one of the foremost advocates for either repealing the UIGEA or neutralizing the act with legislation that would instead license and regulate the U.S. online casinos gambling industry. Frank will speak at the hearing and will stress what a growing number politicians are beginning to understand – there is little actual benefit to the UIGEA and it has actually caused a financial burden for the U.S., negatively affected relationships with other countries all over the globe, and could greatly over tax the already stressed U.S. banking industry.

The April 2, 2008 hearing is the first time that many politicians and Congressman will have an opportunity to really learn about the online casinos gambling issue that faces the country. The fact is, there are only a select number of Congressman that were fully aware of the implications of the UIGEA when it was passed in 2006 as an 11th hour addition to the Safe Port Act.