Barney Frank’s Bill Reaches Milestone

October 5th, 2009

Representative Barney Franks, which is sponsoring a bill that would make online gambling legal in the United States, had a big reason to smile last week. The bill now has sixty co-sponsors. The bill has gained popularity this year with changes in Congress.

The two newest co-sponsors for the bill come out of Mississippi and Washington. Congressman Bennie Thompson comes out of the second district of Mississippi and Adam Smith comes out of the ninth district of Washington.

On a further note, Barney Franks and eighteen other lawmakers sent a letter to the Treasury Secretary and Federal Reserve Chairman this week to request a delay of the rules for the UIEGA. The rules for the UIEGA are set to go into effect in just a few months and the letter stated that the banks already have enough stress without implementing a new set of rules for the UIEGA.

The lawmakers are asking for a year extension on the rules going into effect. A year would allow Franks to work on getting his bill passed which would erase the UIEGA and make online gambling legal again. So far there has not been an answer to the request but hopefully one will soon follow.

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