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Jump to full article: Heartland Institute, 2007-10-01
Author: Steve Stanek - The Heartland Institute
Intro: Cigar makers and distributors were stunned to learn legislation to fund an expansion of the federal State Children's Health Insurance Program (SCHIP) included a potential 20,000 percent increase in the tax on cigars. . .
said Michael Gold, president of Arango Cigar Company in Northbrook, Illinois, one of the nation's leading sellers of fine cigars and other tobacco products.
"Today the tax is 20.7 percent of the manufacturers' price, with a cap of $48.75 per thousand, or about a nickel a cigar," Gold said. "The House increases the percentage to 44.6 percent, with a cap of $1 per cigar. The Senate version is 53.1 percent and a cap of $3 a cigar. This is on large cigars.
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