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The Unlawful Internet Gambling Enforcement Act has placed a strain on relations between the US and other European Union members. That was never more clear than on Thursday when it was discovered that the EU has the US on a short leash.
They have extended a lifeline to the US to fix the problems that have been created by the UIGEA. Representative Barney Frank has plans of moving quickly to remedy the situation.
“The Bill introduction should happen within the next month. Mr. Frank will bring back legislation to repeal the UIGEA,” said a spokesman for the House Financial Committee Chairman.
This will not be the first time that Frank has tried such legislation. His past attempts have been blocked by members of Congress that fear the US is losing billions from their economy to overseas online gambling sites.
That may be true, but Frank is realizing that this is no longer a matter of what the US government wants to do. The World Trade Organization may be asked to step in and if that happens it could further strain US relations with other countries.
President Obama has said that he wants to regain other countries’ trust in the US and repealing the UIGEA would certainly go a long way in renewing that trust. Obama has also said in the past that he wants to keep the Internet free, so repealing the UIGEA would work two fold for his administration.
With a majority in both the House and the Senate, this time around it may be easier for Frank to have his voice heard. In introducing the Bill he will again speak to the dangers the UIGEA provides not only overseas, but also for financial institutions within the US.