House Dems Propose $100 Billion Tax Hike Targeting The Poor

The Democrats' $3.5 trillion budget proposal relies on a $100 billion tax hike that disproportionately targets the poor, lines the pockets of organized crime, and increases inequality.

A tobacco tax hike would also put a dent in state economies that rely on tobacco production.

The tax plan establishes the first-ever federal tax on vapor products, which have been consistently cited by medical experts as a safer smoking option than cigarettes.

The proposal aims to raise $100 billion in government revenue by raising the tax rate on all tobacco and nicotine products to equal that of traditional cigarettes.

More than half of cigarettes in New York City are smuggled, according to a study this year from the Tax Foundation in response to tax hikes on cigarettes.

Gangs that prefer to do business on their own buy cigarettes in low tax areas then sell them in high tax areas for profit.

The nation's largest tobacco companies oppose the tax plan, citing concerns with the equal tax rate on all tobacco and nicotine products.

https://freebeacon.com/policy/house-dems-propose-100-billion-tax-hike-targeting-the-poor/