Debt Committee May Explore Online Poker To Help Close Budget Gap
The Budget Control Act of 2011 was signed by President Barack Obama earlier this month, and the result of that legislation is that a super committee has been formed. The committee will be responsible for coming up with ways to trim over one trillion dollars from the national debt over a ten year period.
There are very few ideas that exist that can cut largely into the debt. Analysts believe there is one major flaw in the US system that could account for trimming millions off the budget shortcomings. Online poker is still unregulated, but many lawmakers believe this could be the key to turning the country’s finances around.
Senate Majority Leader Harry Reid, from Nevada, is all but assuring that online poker legislation will pass in the US. What Reid left out of his statement, however, is when that bill would make its way through Congress. Several analysts believe the bill could come to the House and Senate floor by the end of the year.
The online gambling issue is one that has been creeping up in Congressional discussions over the past couple of years. With each year that has passed since the Unlawful Internet Gambling Enforcement Act was created in 2006, the cries have become louder from constituents who want the law eliminated.
The most obvious display of support for online poker regulations has come in recent months. When the US Department of Justice handed down indictments on PokerStars and Full Tilt Poker, millions of Americans were left without a place to play their favorite online hobby. The calls began to pour into the office’s of US Representatives.
The aftermath of Black Friday has been swift and effective. Legislators such as Senator Jon Kyl, who has long opposed online gambling, and once compared the activity to “crack cocaine,” has softened his stance. If Kyl comes on board with online poker regulations, it is likely many of his Conservative allies will fall into line behind the legislative leader.
Sen. Kyl happens to be on the super committee in charge of the debt savings. Kyl is joined on the committee by eleven other members of Congress. In the coming months, Kyl and Reid will be in a series of negotiations that could finally lead poker players to the promise land of being protected by the US government moving forward.