Congress is considering legalizing and taxing Internet gambling. The New York Times reports that the federal government is trying to find new ways to generate revenue.
A House committee approved a bill Wednesday that would legalize online poker and other non-sports betting. A companion bill, which has not been voted on yet, would allow the Internal Revenue Service to begin taxing online gambling businesses.
Back in 2006, Congress banned Internet gambling, but they are now rethinking that decision. Congress barred banks from processing payments to offshore gambling websites. Supporters say the shift could yield billions in taxes, many Republicans are appalled at the idea.
Representative Spencer Bachus of Alabama told the NYT, "after all that talk last year about shutting down casinos on Wall Street," he went on to say he was incredulous that members would vote to "open casinos in every home and every bedroom and every dorm room, and on every iPhone, every Blackberry, every laptop."
According to an article on NPR, supporters of the bill estimate that taxing Internet gambling could generate as much as $42 billion over 10 years for the federal government.
