Representative Barney Frank is expected to announce on Friday the first victory for the online gambling industry in years. Frank will announce that the implementation of the Unlawful Internet Gambling Enforcement Act will be delayed.
The rules were supposed to take affect on December 1st. Lawmakers and interest groups, however, have been pushing for a delay in the process. They have sent letters claiming that more time is needed to discuss Internet gambling's future in the US.
Apparently, U.S. Treasury Secretary Timothy Geithner has given in to that request, and will delay the implementation until June 1st. That will give Frank much needed time to begin the process of changing online gambling laws.
Frank has introduced two pieces of legislation aimed at overturning the UIGEA and setting up the framework for a regulated Internet gambling industry. The economic crisis in the country, however, has kept Frank and other lawmakers from discussing these two proposed Bills.
Republicans who pushed for the UIGEA and helped pass it will now hope that the new administration is unsuccessful in swaying enough lawmakers to pass Frank's legislation. Already, sixty-three co-sponsors have signed on to H.R. 2267.
The House Finance Committee is set to begin discussions on December 3rd regarding the Frank legislation. Now, the lawmakers will have more time to mark up the legislation.
