Categories · Settlements
· Tax
· Bonds
USA, by State · Texas
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Jump to full article: U.S. Newswire, 2002-10-01
Intro: "This is a nearsighted solution to the state's problem that only makes the state's budget harder to balance in future years. Because it's a one-time payment, future annual settlement payments will end, which means the state will be forced to raise taxes or cut programs more drastically when budget deficits occur in the future.
"The best solution for Texas lawmakers to balance the state's budget is to act on the recommendations of the state's public health advocates and increase the cigarette tax by $1.00 per pack. A cigarette tax increase is a win-win-win solution for Texas - a health win that will reduce smoking and the tremendous harm it causes, a financial win that will generate roughly $1 billion per year in new revenue, and a political win that was supported by 70 percent of Texas voters in a poll conducted last June. Texas leaders should act to join the twenty states across the country that have increased cigarette taxes in the past year."
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