WASHINGTON -- The U.S. Treasury has lost millions of dollars because of Congress' failure to approve full funding for the Securities and Exchange Commission for the current fiscal year, SEC chairman Arthur Levitt told two House panels yesterday.

His comments came as Sen. Orrin Hatch, R-Utah, became the latest of several Senate Republicans to put a "hold" on legislation that would authorize the SEC to collect $192 million in users fees to fully fund the commission at $306 million for fiscal year 1995, which began last Saturday. The House passed the bill last week, but Hatch is reportedly trying to hold the bill hostage in the Senate until Congress attaches a measure to address tax problems of self-employed Americans.

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