Sen Rockefeller Betting Online Gambling Will Help Reduce Deficit

Senate Commerce Chairman Jay Rockefeller (D-WV) has a long list of ideas for reducing the deficit and one of them calls for generating tax revenue by legalizing online gambling.

Last week, Chairman Rockefeller released 18 proposals that he said could generate $1.29 trillion over 10 years in deficit savings. The list includes a proposal for regulating and taxing online gambling, which he said could result in more than $41 billion in tax revenues over 10 years. "Establishing online gambling regulations will protect consumers, state's rights and state sovereignty, and eliminate a huge illegal market that today benefits only countries and companies overseas," Rockefeller's office said in a statement. Chairman Rockefeller is considering offering legislation to legalize online gambling and he believes the proposal should be on the table in deficit reduction talks.