Thursday, January 15 2009
Source:
CigarCyclopedia.com
So much for the "legislative process."
The U.S. House of Representatives passed its version of an expansion of the State Children's Health Insurance Program (SCHIP) – H.R. 2 – in one day! The measure was introduced on Tuesday and according to normal House procedure, it was referred to the Ways and Means Committee.
Rather than go through any hearings process, however, the bill was rushed (by House Resolution) to the floor and after a token debate of one hour, was passed by a roll-call vote of 289-139 at 2:45 p.m. Wednesday afternoon.
As promised, the bill raised the federal tax on large cigars from 20.719% of the manufacturer's wholesale price to 52.4% and raised the tax cap by 821% from 4.875 cents per cigar to 40 cents per cigar. The cap will essentially apply to all premium cigars sold in the U.S. as the cap amount is reached at the wholesale price of 77 cents per cigar.
SCHIP bill passes in one day coninues...
