Regulating internet gambling would generate billions in new revenue for critical government programmes, according to Representative Jim McDermott.
McDermott provided the findings of the new tax revenue analysis prepared by PricewaterhouseCoopers to all Members of Congress and said: “Before us is an opportunity to protect consumers and recoup billions of dollars that should be collected by the Internal Revenue Service.
“These are revenues that are desperately needed, given that we are at war and face difficulty financing the nation’s priorities.”
It is estimated that between US$8.7bn to $42.8bn of federal revenues would be generated over its first 10 years.
