NEW YORK - If legislation passes to give the Food and Drug Administration the authority the regulate the tobacco industry, it could reshape the industry's competitive landscape, Fitch Ratings said in a new report Thursday. The U.S. House overwhelmingly passed the legislation in July, but it requires approval by the Senate and President Bush. Bush's administration has said he will veto the bill. The bill would empower federal public health authorities to regulate tobacco for the first time. Fitch said it does not expect the law to be put into practice this year but said that if a Democrat is elected to the White House, the eventual passage of the bill is "highly probable." More... Nutty News - Cigarettes America Front Page News
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