McDermott Sponsors Internet Gambling Tax Legislation
1/31/08 - Associated Press
WASHINGTON — Congressman Jim McDermott says a tax on Internet gambling could generate $8 billion to $42 billion in revenue in its first 10 years.
The figures come from an analysis prepared by PricewaterhouseCoopers that McDermott provided to all members of Congress.
The Seattle Democrat introduced the Internet Gambling Regulation and Tax Enforcement Act.
McDermott says attempts to ban Internet gambling have been ineffective and his approach would protect consumers and subject the revenue to taxation.