The nicotine tax that passed the House of Representatives as part of the Build Back Better Act has now been dropped from the version of the bill being considered in the Senate.
But until the bill actually passes without the tax, it could be added again.
The Wall Street Journal reported Thursday evening that Nevada Senator Catherine Cortez Masto, a Finance Committee member, pushed for the tax to be deleted from the almost $2 trillion legislation. The nicotine tax would have provided about $9 billion in revenue over 10 years—essentially a drop in the bucket of revenue needed to fund the huge spending bill.
“I have been clear from the start of this process that I would not raise taxes on anyone making less than $400,000, and I would not support measures that hurt Nevada’s small businesses, farmers and ranchers, or the more than 30,000 men and women whose jobs are supported by the mining industry,” Sen. Cortez Masto said in a statement.
Jim McDonald – Vaping360.com – 2021-12-10.
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