Frank poised to unveil Internet gambling bill

House Financial Services Committee Chairman Barney Frank (D-Mass.) will soon reintroduce a controversial bill on Internet gambling.

Frank is expected to introduce the measure in the next month or so, according Steve Adamske, communications director for the Financial Services Committee.

Internet gambling, a $13 billion a year industry and growing, is being eyed by some in Washington as a large, untaxed industry that could be tapped into to help aid the government as it continues to battle large federal deficits.

Taxing online gambling will allow the Obama administration and Congress to generate revenue