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New Study Confirms $1 Cigarette Tax Increase Will Produce Large, Sustained Revenue Needed to Cut North Carolina Budget Deficit
Categories:
· Tax
International:
· USA
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Source:http://www.sunherald.com/,2010-05-20
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As the legislative session begins, a report released today by a tobacco policy expert at the University of Illinois at Chicago confirms that a significant cigarette tax increase in North Carolina will produce a large, sustained increase in state tobacco tax revenues. Several states, including South Carolina, have recently raised tobacco taxes to deal with budget shortfalls.
"This report joins the mountain of evidence showing why raising the cigarette tax is exactly what North Carolina needs to help tackle our budget problems," said Pam Seamans,. Executive Director of the North Carolina Alliance for Health. "As we saw last week in South Carolina more states are increasing the cigarette tax to raise revenue and protect vital programs like education and law enforcement from deep cuts, while preventing kids from smoking and saving lives at the same time," she said.
Health advocates are calling on the Legislature and Governor Perdue to increase the state cigarette tax by $1 per pack, and also increase the tax on other tobacco products, in order to raise much-needed revenue and reduce tobacco use at the same time.
"A $1.00 cigarette tax increase would prevent 84,000 North Carolina kids from becoming smokers and prompt 52,000 adult smokers to quit. It would also prevent more than 40,000 smoking caused deaths. At the same time, the state would generate approximately $366.2 million in new annual revenue while realizing $1.9 billion in long-term health care savings," said Seamans. " This is a win-win for North Carolina." |
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Source: http://www.sunherald.com/,2010-05-15 |
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Source: http://blog.mlive.com/,2010-05-10 |
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Ten years after major tobacco companies agreed to pay about $8 billion annually for 25 years to Michigan and other states, some states aren't using the money as it was intended, health experts say.
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Source: http://www.khaleejtimes.com/,2010-04-26 |
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