saying: "Of all the components of radical reform, I think a Tobin tax is bottom of the list ... It's not thought to be the answer to the 'Too Big to Fail' problem—there's much more support for the idea of a US-type levy." : India remains opposed to a global FTT. A senior Finance Ministry official argued that the proposed tax would put an additional burden on the domestic banking system. : Sweden opposes a FTT if it is applied only in the European Union. : The US Secretary of the Treasury Lloyd Bentsen initially supported a FTT in 1994. In 2004, Representative Chaka Fattah of Pennsylvania introduced a bill in the US House of Representatives (H.R. 3759) that would require a study to reform the Federal tax code through eliminating federal income tax and replacing it with a transaction fee-based system. In 2010 he introduced the "Debt Free America Act" (H.R. 4646), that goes further and proposes to enact a 1% FFT and eliminate federal income tax. Both bills never made it out of committee. On 24 September 2009, Paul Volcker (former US Federal Reserve chairman) "said he was 'very interested' by ideas for a tax on transactions between banks". On 3 December 2009, 22 representatives in the United States House of Representatives supported the "Let Wall Street Pay for the Restoration of Main Street Bill", which contained a domestic financial transaction tax. On 7 December 2009, Nancy Pelosi, Speaker of the United States House of Representatives stated her support for a "G-20 global tax". However, already on 6 November 2009, US Treasury Secretary Timothy Geithner, following UK Prime Minister Gordon Brown's call for a global FTT, expressed US opposition to the proposal saying: "A day-by-day financial transaction tax is not something we're prepared to support". Instead Geither favors an ongoing levy charged against large banks. On 13 December 2009, Paul Volcker, chairman of the US Economic Recovery Advisory Board under President Barack Obama, said he "instinctively opposed" any tax on financial transactions. "But it may be worthwhile to look into the current proposals as long as the result is not predetermined. That would at least end all this renewed talk about the idea, but overall I am skeptical about these ideas." By 2011, Volcker was more open to the idea of a transaction tax as a means to slow down trading. According to Ron Suskind, the author of