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 Should Republicans gain control of the House of Representatives, Congressman Barney Frank's tenure as the Financial Services Committee Chairman could come to an end. A recent Financial Times article noted that, "Polls show control of the House of Representatives is too close to call while the Democrats are expected to retain control of the Senate, albeit with a reduced majority."
Frank has long been an advocate for online gambling. He helped to create HR 2267 also known as the Internet Gambling Regulation, Consumer Protection, and Enforcement Act. The bill which would decriminalize and regulate the online gambling industry has been making some progress in the last few months but if the Republicans manage to take the majority one of the bill's strongest opponents Congressman Spencer Bachus would likely become the new Financial Services Committee Chairman.
During the markup of HR 2267 Bachus open the proceedings with a very clear argument that showed his position on the issue, "After all of the talk of the past year of shutting the casinos down on Wall Street, why would we take steps today to open casinos in every bedroom and every dorm room on iPods, Blackberrys, iPhones, and computers?"If Bachus were to take control of the House there is a very good chance that he would do everything in his power to stop the bill in its tracks.
For the moment HR 2267 is sitting in limbo, waiting for its time on the House floor. There is the possibility that HR 2267 could be attached to a must-pass bill later this year but there is no guarantee that such a measure will happen. As always the results of Election Day will be crucial in deciding what bills make it to the House floor.
Make your voice known by visiting the polls this November.
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