House members see legalized online gambling as revenue, job generator

A bipartisan group of four House members have reintroduced legislation to legalize online gambling and say passage of the bill would provide a much-needed revenue stream for the federal government and might also boost job creation.

"Clearly, Americans want to gamble on the Internet, and policymakers need to provide both the freedom to do so, as well as ensure that appropriate consumer protections are in place," Rep. John Campbell (R-Calif.) said this week. "Regulating online gaming and making certain that these sites are operating legally in America will also create economic growth through generated tax revenue and the possibility of attracting foreign players to U.S. sites."

Campbell and Rep. Peter King (N.Y.) are the two Republican co-sponsors of the bill, and House Financial Services Committee Ranking Member Barney Frank (D-Mass.) and Rep. Ed Perlmutter (D-Colo.) are the two Democrats on the bill, H.R. 1174.

A similar bill sponsored by Frank was approved by the House Financial Services Committee last July, in a 41-22 vote. But now-Chairman Spencer Bachus (R-Ala.) voted against it, as did Rep. Jeb Hensarling (R-Texas), the No. 2 Republican on the committee. Last year, 19 Republicans voted against it, and 12 of them are still on the committee.

Campbell this week recognized that committee passage will be difficult this year, as it will "likely face stiff resistance from Chairman Spencer Bachus."