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Democrats are trying to pay for regressive tax cuts in their social spending bill with a big regressive tax hike on vapers.
The latest version of the “Build Back Better” plan that’s currently being considered in the House of Representatives would slap a new excise tax on any nicotine product “that has been extracted, concentrated, or synthesized” (i.e., nicotine-containing vaping liquid) at the rate of $50.33 per 1,810 milligrams of nicotine.
This is mercifully only half the size of the vaping tax that was included in the first version of the bill. It would nevertheless lead to a massive tax increase on vapers and the businesses that sell to them.
“This tax will close my shop,” Keith Gossett, the owner of Bucky’s Vape Shop in Columbus, Georgia, told Reason in September about the previous plan to tax vaping liquids at a rate of $100.66 per 1,810 milligrams of nicotine.
Christian Britschgi – Reason – 2021-11-05.
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