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Status of SCHIP and the Cigar Tax
By Jesse | September 18, 2007
According to No More Tobacco Taxes SCHIP is moving to the President:
In an attempt to get the SCHIP legislation passed before the current program expires September 30, the House Democratic leadership has agreed to accept the Senate version of the legislation for the framework of a compromise bill. The Senate version, H.R. 976, currently proposes to increase the OTP excise tax rate on cigars to 53.12 percent with a $3 cap per individual cigar. Determined, strategic lobbying continues of key Senate Finance committee members seeking amendments to the proposed legislation before it advances through the process. Of the amendments sought, we are working to have the floor stocks tax provision on cigars removed from the legislation. Additionally, we continue working for a much lower tax rate and cigar tax cap, one that is both reasonable and fiscally-acceptable for all of our retail members.
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Topics: Cigar News |
September 20th, 2007 at 9:48 am
[…] You can also see the status of the SCHIP at Cigar Jack’s. […]