Well, if this is any future indication of the new president and his "no more taxes for those earning 250K or less," we're all screwed. For make-your-own, this new tax jumps up to around 2000%, and it raises pretty much all taxes on tobacco period. Don't give me the anti-smoker B.S., it's about what's right and fair and we've already been taxed to death higher than any other genre or social class or anything, period. He has said on record that he will sign it. Here's a quick comparitive analysis of the "TITLE VII--REVENUE PROVISIONS" especially SEC. 701. INCREASE IN EXCISE TAX RATE ON TOBACCO PRODUCTS..http://www.govtrack.us/congress/billtext.xpd?bill=s111-275&version=pcs&nid=t0%3Apcs%3A1425
Comparison between H.R.2 and S.275:
Every single number in Section 701 has been tweaked slightly upward in the Senate version. Here are the most glaring changes and those we are most concerned with.
It looks like they've eliminated the "Small Cigar" category and the graduated tax increases from $12.50 to $50 in 4 steps over 6 years in HR 2. In S. 275, Tax on cigars would increase from $1.828 per thousand to $50.33 per thousand.
RYO jumps from $1.0969 per pound to $24.62 in HR 2, changed to $24.78 in the Senate bill.
Cigarette Papers: From 1.22 cents to 3.13 cents in HR 2, changed to 3.15 cents in S 275.
Cigarette Tubes: From 2.44 cents to 6.26 cents in HR 2, changed to 6.30 cents in S 275.
Comparison between H.R.2 and S.275:
Every single number in Section 701 has been tweaked slightly upward in the Senate version. Here are the most glaring changes and those we are most concerned with.
It looks like they've eliminated the "Small Cigar" category and the graduated tax increases from $12.50 to $50 in 4 steps over 6 years in HR 2. In S. 275, Tax on cigars would increase from $1.828 per thousand to $50.33 per thousand.
RYO jumps from $1.0969 per pound to $24.62 in HR 2, changed to $24.78 in the Senate bill.
Cigarette Papers: From 1.22 cents to 3.13 cents in HR 2, changed to 3.15 cents in S 275.
Cigarette Tubes: From 2.44 cents to 6.26 cents in HR 2, changed to 6.30 cents in S 275.