New Internet Gambling Legislation Would Collect Billions in New Revenue

Congressman Jim McDermott (D-WA) introduced yesterday the Internet Gambling Regulation and Tax Enforcement Act of 2008 that would ensure that taxes are collected onregulated Internet gambling activities. These revenues are estimated between $8.7 billion and $42.8 billion over ten years, according to arecent tax revenue analysis prepared by PricewaterhouseCoopers.