Back in late February Reuters reported that Representative Barney Frank was going to be introducing a new bill to stop the Unlawful Internet Gambling Enforcement Act from being implemented some time in March. The date has already been pushed back once, and word is that the bill will now be introduced in early May. No one is entirely certain what specifics would be in the proposed legislation, but Representative Frank has been clear in his disdain for the UIGEA and now that he is chairman of the House Banking Committee the possibility of a bill at least getting out of committee and being voted on by the entire House of Representatives is much higher.

Congressman Frank has always taken the position that the UIGEA is a burden to the financial industry that was harmful to progress even before the current economic crisis. Several public European firms that handle bets had to pull out of the lucrative American market after the UIGEA was passed, angering European countries that saw tax revenues fall. Democrats hold a sizable lead in the Banking Committee and Republican Ron Paul has supported anti-UIGEA bills in the past so his support is assumed.

Let's all hope that the bill is well written and Americans will see common sense legislation come out of the House. I will update when the bill is released.