The Senate Finance Committee is currently considering a bill that would result in a huge increase in the federal tax on cigars. Currently, the federal tax on cigars is at $0.05. The proposed bill could increase that to as much as $10.00, a 20,000% increase.
The bill is seeking to add $35 billion in funds to the State Children's Health Insurance Program, which helps uninsured children get the healthcare they need. The Senate Plan is to fund the increase in children's healthcare funds by increasing taxes on tobacco products.
TRANSLATION: The bill is seeking to add $35 billion in funds to the general fund, which helps politicians get elected by buying votes and paying off friends they need. The Senate Plan is to fund the increase in general funds by increasing taxes on tobacco products.
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