For Immediate Release
Contact: Michael Waxman
202-872-4860 ext. 238
mwaxman@hydeparkcomm.com

Andy Stern’s Deficit Reduction Plan Proposes Regulation of Internet Gambling as a New Revenue Raiser

(December 6, 2010 – Washington, DC) While rumors abound in the media about a possible Senate Internet gambling bill, the Safe and Secure Internet Gambling Initiative today applauded the introduction of a deficit reduction plan by Andy Stern, a member of President Obama’s fiscal commission and former president of the Service Employees International Union (SEIU), which recommends utilizing new revenue generated from Internet gambling regulation to pay down the national debt.

Safe and Secure Internet Gambling Initiative’s spokesperson, Michael Waxman said,

“We commend Commissioner Stern’s sensible recommendation to use the new revenue generated from Internet gambling regulation to pay down the deficit – a policy approach that has gained traction and bi-partisan support in Congress.

Stern’s recommendation sends a clear signal of the broad support for replacing a failed prohibition with a regulatory environment that would protect consumers and capture tens of billions in new revenue. It is now essential for Congress to consider his thoughtful suggestion and regulate the industry.

Current efforts to prohibit Internet gambling have completely failed, as millions of Americans continue to gamble online each year. As the federal government stands on the sidelines, the lack of regulatory oversight has allowed underage and compulsive gambling to flourish, while also leaving responsible players vulnerable to fraud, money laundering and identity theft.

Click here for a copy of Commissioner Stern’s plan.

About Safe and Secure Internet Gambling Initiative

The Safe and Secure Internet Gambling Initiative promotes the freedom of individuals to gamble online with the proper safeguards to protect consumers and ensure the integrity of financial transactions. For more information on the Initiative, please visit www.safeandsecureig.org. The Web site provides a means by which individuals can register support for regulated Internet gambling with their elected representatives.