House Finance chairman 'not optimistic' about online gambling bill moving

Rep Barney Frank's (D-MA) bill to legalize online gambling is facing some long odds. Chairman Frank said last week that it's unlikely the bipartisan measure, which has cleared his Financial Services Committee, will hit the House floor before the midterm elections. That puts the legislation in some serious trouble, especially because the House has been leading the charge on this issue. Sen. Robert Menendez (D-NJ) has proposed a companion measure, but it hasn't attracted any co-sponsors. Chairman Frank said he wants to see a floor vote on the legislation but, noting the cramped House floor schedule, indicated it would be tough to move his bill this month.