Monday, January 12 2009
Source:
The Stogie Guys
Well, it looks like today we'll all finally learn just what the new federal tax will be on cigars. No more speculation and rumor. The facts will be laid out in the bill to reauthorize the 11-year-old State Children's Health Insurance Program (SCHIP), which is slated for a vote in the U.S. House of Representatives Wednesday or Thursday.
Federal budget crunchers were working the numbers Monday, trying to see if everything adds up. Apparently, the increased tax revenue — largely from a cigarette tax boost — isn't now sufficient to expand and fund a five-year plan. So, there's consideration of shortening the time frame and coming back again in a few years.
SCHIP Cigar Tax Increase To Be Unveiled Today continues...
