Competitive Enterprise Institute | 1899 L ST NW Floor 12, Washington, DC 20036 | Phone: 202-331-1010 | Fax: 202-331-0640
Attention: House Financial Services Committee LA
September 15, 2008
Dear Representative: As the House Financial Services Committee moves towards consideration of H.R. 6870 (The Payment Systems Protection Act) and any other legislation that could modify the Unlawful Internet Gambling Enforcement Act, we urge you to give strong and serious consideration to the deep flaws in UIGEA. At a time when a number of social and economic forces seem likely to destabilize the banking system, we strongly question the need for unnecessary and unrelated banking regulation. We perceive three major problems with the bill:
With these factors in mind, we urge you to give you careful, deliberate and full consideration to H.R. 6870 and any other measures that might serve to fix the manifest problems with UIGEA. In the long term, we urge you to consider measures that would repeal UIGEA altogether.
Sincerely, Eli Lehrer, Senior Fellow, The Competitive Enterprise Institute Michelle Minton, Policy Analyst, The Competitive Enterprise Institute Grover Norquist, President, Americans for Tax Reform Derek Hunter, Executive Director, The Media Freedom Project Wayne T. Brough, Chief Economist & Vice President of Research, FreedomWorks