Posts tagged: tax increases

Subsidy Cap, Tobacco Tax Hike Eyed To Cover W.Va. Retiree Costs

Tweet CHARLESTON, W.Va. — A funding gap for public retiree health care is prompting West Virginia lawmakers to consider raising tobacco taxes and capping retiree subsidies. A Senate bill introduced Monday also aims to ease concerns that prompted county school boards to sue unsuccessfully over retiree costs last year. The measure focuses on other post-employment benefits, or OPEB. West Virginia estimates it lacks nearly $7 billion of what it ... Jump to full article >>

Study: Raising the price of tobacco is the effective way to reduce tobacco use

Tweet According to a recent report, raising the price of tobacco products through excise tax increases is the most effective way to reduce tobacco use in Turkey, which is a win-win situation for public health and government revenues. The tobacco excise tax is calculated on an ad valorem basis. However, if the calculated tax falls below a minimum amount, a specific tax rate applies. As of Jan. 1, 2010, the ad valorem tax is 63 percent of retail pr ... Jump to full article >>

Cost of smoking higher than revenue

Tweet Today, tobacco is deeply entwined in Chinese culture, from the compulsory cigarettes given to male guests at almost every wedding, to the glossy images of national icons that adorn cigarette packets. It is estimated that tobacco kills a million Chinese each year, says Yang Gonghuan, deputy head of China’s National Tobacco Control Office. China’s smokers puff their way through a bounty of cigarettes given as gifts on special occa ... Jump to full article >>

Price hikes turning smokers off

Tweet Research due out tomorrow shows double the number of hardcore smokers have tried to quit since tax increases in April. A day after radical plans were revealed to encourage more New Zealanders to give up cigarettes, ONE News has learned people have already been put off the habit since the first round of tax hikes hit. And the study shows the results are particularly significant for Maori and Pacific Island smokers. Tobacco control researche ... Jump to full article >>

Richardson suggests sales tax to balance budget

Tweet Gov. Bill Richardson said Tuesday he will call a special session of the Legislature next week if lawmakers fail to agree on a state budget before adjourning on Thursday but there’s still time to reach a compromise on spending and tax increases. The Democratic governor said lawmakers should consider a small increase in New Mexico’s gross receipts tax — perhaps one-eighth or one-quarter of a cent — along with a tax on ... Jump to full article >>