00:00Let's get to Ohio, a potential idea, advice from one of the legislative people out there thinking of what the future of sports betting could look like from a tax perspective.
00:13Yeah, so U.S. Representative Mike Rowley, a Republican from Ohio, has proposed using the sports betting federal excise tax, which is 0.25% on overall handle on immigration.
00:30On ICE to help fund ICE, which, of course, is the topic de jure of national news.
00:35And so it's interesting to see sports betting get kind of drawn into that.
00:39I mean, it's not a nothing to sneeze at, really.
00:43I mean, what we're seeing is, you know, you can read the report at LSR, but ICE spending is already a billion over what it's projected to be with three months left in the fiscal year.
00:52So there is need to find funding for this if those efforts from the Trump administration are going to continue.
00:58Well, the excise tax, which, you know, there's been efforts from Rep Dina Titus out of Nevada to completely repeal it because, you know, it's kind of dated.
01:07It was started in the 50s to help combat gambling outside of Nevada.
01:12Well, now we're here and gambling's across the country and you've got massive amounts of money going to it.
01:191.3 billion cents as well.
01:21And that is un-earmarked.
01:25It just kind of goes, Titus has said she doesn't, she's asked and nobody knows where it goes.
01:31So here you are, you have a lawmaker saying, well, let's put it towards ICE.
01:34And then, of course, there's been other proposals earlier this year from Senator Richard Blumenthal, who says, let's go ahead and put it towards responsible gambling frameworks and things like that.
01:44So I don't know.
01:45We'll see what happens.
01:46It may or may not go anywhere, but certainly interesting to see sports betting getting pulled into one of the most talked about issues in government right now.
