Hearing on Internet Gambling Taxation Bill Set for Wednesday

What:                          The House of Representatives' Ways and Means Committee will hold a hearing this Wednesday on legislation, H.R. 4976, sponsored by Congressman Jim McDermott (D-WA) that would provide the framework in which regulated Internet gaming can be properly taxed to raise significant revenue for federal and state governments.  It is estimated that more than $4 billion annually of potential revenue leaves the U.S. to overseas jurisdictions where Internet gaming is already effectively regulated.  This legislation is a companion bill to H.R. 2267, which would license and regulate online gambling.

When:                         Wednesday, May 19^th

                                    9:30 a.m. EDT

Location:                    1100 Longworth House Office Building

                                    Washington, D.C.