House Ways and Means chairmanDan Rostenkowski said he questioned whether a U.S. tax on
securities transactions would be appropriate.
    The Illinois Democrat told Reuters before addressing the
Future Industry Association that such a tax may impair the
international competitiveness of the U.S. securities business.
House Speaker James Wright has said a tax on securities
transactions could help reduce the federal deficit.
    Rostenkowski said he understood that the U.K. is exploring
the possibility of easing its tax burden on securities firms.
Thus, a new U.S. tax would be especially hard felt here.
 Reuter
